Sila secures USD 13 mln in Series A funding

Tuesday 27 July 2021 12:03 CET | News

Sila, an API platform that provides payment infrastructure as a service while ensuring regulatory compliance, has secured USD 13 million in Series A funding led by Revolution Ventures.

Existing investors, Madrona Venture Group, Oregon Venture Fund, and Mucker Capital, and angels including Taavet Hinrikus, Co-founder and Chairman of Wise, also participated in the round.

Sila enables software developers to incorporate regulatory compliant payment capabilities into their products. Sila’s banking APIs replace the need for integrating with legacy financial institutions. Sila’s built-in-compliance Know Your Customer (KYC), and Know Your Business (KYB) capabilities, verify consumer and business identities and confirm that the source of funds is legitimate. 

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Keywords: funding, API, compliance, KYC, KYB
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: United States
This article is part of category

Securing Transactions