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Brazil-based Stark Bank secures USD 13 mln

Friday 10 December 2021 14:44 CET | News

Stark Bank, a B2B Open Banking fintech has raised USD 13 million in a round that will finance the expansion of financial products offered by the company and increase the team, according to startupi.com.br.

The Series A round was led by solo-VC Lachy Groom and was attended by K5 Global, Iporanga Ventures, and Norte Capital, as well as founders of Coinbase, Dropbox, Flexport, Figma, Rappi, D.Local, Wildlife, and Slack. The capital will be used mainly to invest in the improvement of current PIX, cash management, and corporate card products, as well as for the launch of new products of acquiring, exchange, CCB, issuing white-label cards, and offering banking infrastructure.

Stark Bank’s main operation is cash management, performing the accounts payable and receivable of companies such as Buser, Quinto Andar, Loft, Colgate, D.local, Bitso, PetLove, Kovi, and Daki,the latest unicorn in Brazil. In 2020, Stark Bank received its licence from the Central Bank, having developed its entire banking infrastructure from scratch. This construction of the technology was one of the reasons that led the solo-VC Lachy Groom to invest in the company.


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Keywords: challenger bank, investment, Open Banking
Categories: Banking & Fintech
Companies:
Countries: Brazil
This article is part of category

Banking & Fintech






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