FinTech BankiFi has raised £4mn funding as it aims to take its product to the American market.
In Brief:
The Manchester based FinTech offers an embedded finance product that connects banks and SMEs.
It offers open cash management architecture to help transform a bank’s digital banking infrastructure.
The funding round was led by Praetura Ventures, and supported by the Great Manchester Combined Authority.
What does this mean?
The round follows a £2.2mn raise last year, and will help BankiFi focus on its next aim of taking its embedded platform into international markets. It has recently established a US office and will focus on North America.
