BankiFi, a leading provider of embedded banking solutions for small and medium businesses (SME), has secured £4 million of additional investment to continue its global expansion, with a focus on North America following the recent establishment of a US sales office.
BankiFi provides an open cash management platform and architecture that financial institutions embed into their current digital banking infrastructure to address the specific issues of their SMB portfolio.
This funding has been led by Praetura Ventures and Greater Manchester Combined Authority (GMCA).
Chris Fry, chief financial officer, BankiFi said; “With investments into technology companies starting to slow, this is a huge endorsement from our investors that proves we’re doing the right things as a business at BankiFi. This latest investment means we can continue our global expansion and focus on supporting banks to make all aspects of cash management and payments easier for SMEs everywhere.”
David Foreman, managing director, Praetura Ventures; “BankiFi has proven to be an industry-leading open cash management provider in Europe, Australia, New Zealand and other countries. Now that they have launched in North America, BankiFi has an opportunity for dramatic growth. We’re looking forward to continuing our partnership and seeing their solutions continue to transform bank channels, in order to support SMEs around the world.”