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Press release: BankiFi secures $4.8 million investment to boost global expansion

Press release: BankiFi secures $4.8 million investment to boost global expansion

08/18/2022
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In the wake of our recent launch in North America, we were thrilled to announce our appointment of Tom Shen as Chairman to the global board of directors. Today, we're delighted to share more good news with our latest $4.8 million investment.

As an industry-leading provider of embedded banking solutions for small and medium businesses, we're delighted to share that we've now secured $4.8 million of additional investment. This funding will be used to bolster our global expansion; focussing initially on North America.

This latest investment provides us with the capital to bring our industry-leading embedded banking platform to more than two million SMEs across four continents by 2024 through our bank partners.

"Technology investments have been slowing down this year, and to see our investors show such a strong commitment is a huge 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 SMBs everywhere, and this investment is another huge step to making that a reality.”

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Our investors and why they are doubling down on BankiFi

Our latest funding has been led by Praetura Ventures. They themselves are on a mission to help businesses to reach their full potential by providing both monetary and operational support. We are also pleased to share our other investors who include the Greater Manchester Combined Authority (GMCA).

"BankiFi has proven to be an industry-leading open cash management provider in Europe, Australia, New Zealand and other countries,” said David Foreman, managing director of Praetura Ventures. “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 SMBs around the world.”

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Meet us at Sibos 2022

Join us for a week of innovation and putting banks at the heart of business as we get ready for Sibos in Amsterdam. BankiFi will be exhibiting at the show, with ongoing demonstrations of our embedded banking solutions and how we are enhancing banks' existing digital channels.

📅 When: 10th - 13th October
📍 Where: RAI, Amsterdam

Arrange a time to meet with our team at the show.

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About Elle Rushby | Marketing Executive

Elle Rushby is the Marketing Executive for banking and technology company, BankiFi. With a passion for content creation, copywriting and carving marketing strategies (to name but a few), she is very much enjoying implementing her creativity into the world of BankiFi.

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