Weavr has raised $4mn in a Seed funding round and launches its embedded banking tools.
In Brief:
-
Weavr enables businesses to “bring the bank to their customers” without specialist knowledge or regulation.
-
It’s aimed at service industries like education, fitness and employment.
-
The round included Anthemis, QED Investors and Seedcamp.
What does this mean?
Weavr cites the acceleration of digital transformation in the service industry as a key reason for the launch of its embedded finance tool at this time. Embedded finance brings financial services into the process of buying and using services, so that consumers don’t need to take care of this separately, and businesses can get on with developing their customer offering without having to worry about the financial services element.
