The round was led by Insignia Ventures Partners with participation from existing investors Beenext and Integra Partners. With this round, Brankas aims to scale its network of more than 40 financial institutions and 100+ technology companies, expand its product menu of banking-as-a-service APIs serving customers across 6 markets in Asia, and look to double the 100-person strong team.
With a large unbanked population, Brankas has worked with non-bank providers like remittance companies and e-wallets to offer Open Finance solutions that reach previously untapped customer segments. Brankas aims to serve any company that needs financial data and embedded fintech services to bring value to their end users in Southeast Asia: technology companies, traditional brick-and-mortar leaders with online channels, and financial institutions looking to provide a financial marketplace or embedded finance experience to their customers
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