BankiFi secures investment of 4.8 million dollars for expansion in North America
-Investment to bring BankiFi’s extensive open cash management platform to the fourth continent-
COLUMBUS, Ohio–(BUSINESS WIRE)–BankiFi, a leading provider of embedded banking solutions for small and medium-sized businesses (SMBs), has secured $4.8 million for global expansion into North America. This strategic growth investment gives BankiFi the capital to offer its industry-leading embedded banking platform to more than two million SMEs across four continents by 2024.
BankiFi offers an open cash management platform and architecture that financial institutions build into their current digital banking infrastructure to solve the specific problems of their SME portfolio. The investment is unique as all investors are existing shareholders, proving their confidence in BankiFi’s ability to help North American financial institutions take advantage of the technology.
“Technology investment has slowed this year, and to see our investors show such strong commitment is a great vote of confidence in BankiFi’s direction and growth,” said Keith Riddle, CEO of BankiFi Americas. “Our mission is to make all aspects of cash management and payments easier for SMEs everywhere, and this investment is another big step in making that a reality.”
This funding is led by Praetura Ventures, whose mission is to help companies reach their potential with both financial and operational support.
“BankiFi has proven to be an industry-leading open cash management provider in Europe, Australia, New Zealand and other countries,” said David Foreman, CEO of Praetura Ventures. “Now that they have launched in North America, BankiFi has an opportunity for dramatic growth. We look forward to continuing our partnership and seeing their solutions continue to transform banking channels, to support SMBs around the world.”
About BankiFi
BankiFi is on a mission to help over two million SMEs globally by 2024 by partnering with financial institutions to provide technology designed to make business banking better. BankiFi’s platform enables financial institutions to offer a set of integrated services – accounting, invoicing and payments – designed around the processes that SMEs and commercial customers use to run their business. It equips financial institutions to become customer-centric, rather than product-centric, increase their revenue (directly and through actionable insights) and reduce costs. BankiFi’s offices are in Ohio, Manchester, Sydney and Antwerp. For more information, visit www.bankifi.com.
Contacts
Patrick Guilshan
William Mills Agency
[email protected]
678-781-7237
