Emerge secures USD 7.3 million in Series A funding round

Before focusing their efforts on business banking, Emerge’s founders launched a children’s financial literacy app called SquareOne. The shift took place in January 2024, with the company moving from teaching children about money to providing services to SMEs and becoming a neobank. At that time, Emerge planned to go live with an SME proposition by the end of February to early March 2024 and then expand into personal accounts in the third quarter of 2024. SquareOne was set to remain as a kids’ app brand.

Currently, as part of its development strategy, the company works towards supporting Kiwi businesses in optimising and augmenting their operations by enabling them to open as many Emerge accounts as they need, with features that can meet their demands, needs, and preferences, as well as team cards. Despite not being a bank yet, the company launched business accounts and cards and developed EmergePay, which converts a smartphone into a payment terminal. Emerge allows businesses to open an Emerge account instantly in-app and then generate new cards with centralised limits, controls, and real-time notifications. Moreover, Emerge underlined its commitment to further improving the capabilities of a bank in terms of payment acceptance, and accounting tools, among others.