Leading US and UK banks back the financial data standardization platform to modernise business lending.
"This strategic investment from two of the world’s leading banks validates our vision of making standardized accounting data the cornerstone of modern lending."
The investment round was led by Endeit Capital and Uneti Ventures.
"At present, so many organisations are beholden to the dominant global gateway acquirers, known as ‘Monos’. In many cases, these platforms only provide access to certain countries, only facilitate certain payment methods, and necessitate that customers use their gateway. Global and regional enterprises scaling in the Asian market need a more sophisticated and less prescriptive approach. At Nomupay, it is our goal to become the go-to payments platform to unlock Asia for companies globally and vice versa."
The funding round was co-led by KHP Ventures and Cedars-Sinai Intellectual Property Co.
"This round represents a significant leap forward for 52North. With support from both UK and US healthcare leaders, we can expand our product pipeline working with major strategic partners and appropriately leverage the latest tools including AI to reshape urgent care pathways for patients worldwide. The commitment from both KHP Ventures and Cedars-Sinai exemplifies the belief in our vision and the value of our solutions."