Brankas closes USD 20 mln in Series B

Wednesday 5 January 2022 11:26 CET | News

Singapore-based Brankas, the Open Finance technology company, has announced the close of its USD 20 million Series B investment round. 

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

Visa also participated in the round. AFG Partners and Treasury International have also joined the round along with existing Brankas investors Beenext and Integra Partners. Brankas was selected as one of the 5 participants in Visa's 2021 Accelerator Program and jointly developed with Visa, a digital credit card issuance proposition using Visa's data capabilities.

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Keywords: Open Finance, Open Banking, API, funding
Categories: Banking & Fintech
Companies: Brankas
Countries: Singapore
This article is part of category

Banking & Fintech


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