Machester-based fintech BankiFi has secured £4 million in funding to take its embedded bank-to-SME platform into new markets, with a deal with North America following the latest institution of a US gross sales workplace
The most recent funding spherical is led by Praetura Ventures with help from Nice Manchester Mixed Authority. It follows a £2.2m injection by the identical backers in September final 12 months.
The agency, which has additionally obtained backing from Nationwide Constructing Society, Co-op Financial institution and TSB, was based in 2017 by Mark Hartley, who beforehand scaled funds expertise supplier Clear2Pay, which was bought to FIS for circa €375m in 2014.
“With investments into expertise corporations beginning to gradual, this can be a large endorsement from our buyers that proves we’re doing the best issues as a enterprise at BankiFi,” says Chris Fry, BankiFi CFO. “This newest funding means we are able to proceed our world enlargement and deal with supporting banks to make all points of money administration and funds simpler for SMEs all over the place.”
BankiFi introduced its enlargement into North America final month, appointing monetary companies veteran, Keith Riddle, because it US lead.