The startup specialises in payment processing and financial administration services for SMEs. The investment round was led by Praetura Ventures, with participation from the Greater Manchester Combined Authority (GMCA).
BankiFi was founded to help financial institutions better serve small and medium-sized businesses. The firm’s technology equips banks to take on challengers and provide more agile customer-led services to SMEs, as opposed to more traditional product-led offerings. It enables banks to provide a set of integrated services, including invoicing, payments, cash management, and accounting, which are designed to help businesses reduce time spent on financial administration.
The new funding will allow BankiFi to expand its product and service offering, grow its client base, and target new domestic and overseas markets.
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