NorthOne raises USD 2 mln in seed funding

Thursday 24 May 2018 09:43 CET | News

Canada-based NorthOne has raised USD 2 million in seed funding to build out its mobile banking platform targeting small businesses.

The round was led by investors including angel investor Peter Graham, BetterCompany founder Tom Williams, and returning investor Ferst Capital Partners. The company originally launched as Ferst Digital after Ferst Capital, which invested in the company and housed CEO Eytan Bensoussan as entrepreneur-in-residence. It rebranded as NorthOne in fall 2017.

NorthOne is building a mobile banking platform that connects to the financial tools companies use and provides insight into the financial health of the business while automating management tasks. Four thousand businesses have signed up for NorthOne accounts ahead of the platform’s launch.

NorthOne will use the funding to expand its team from five to 15, and complete development of the NorthOne platform ahead of a late 2018 launch. Specific details on pricing will be announced closer to launch, but it will be based on a flat monthly fee which includes unlimited transactions and third-party app integrations.

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Keywords: NorthOne, seed funding, mobile banking platform, small businesses, Canada, fintech
Countries: World