BankiFi secures £4m Series A investment led by Praetura Ventures for international growth.
The funding round was led by Praetura Ventures to support the company's global expansion.
BankiFi provides an open cash management platform that helps financial institutions improve digital banking services for small and medium enterprises. The company operates globally with offices across Europe, Australia, and North America.
BankiFi has secured £4m in a Series A funding round led by Praetura Ventures, with participation from Greater Manchester Combined Authority. The capital will be used to accelerate the company's international expansion, particularly focusing on the North American market following the recent establishment of a US sales office. All participating backers in this round are existing shareholders.
The company aims to scale its open cash management platform to support more than two million small and medium enterprises across four continents by 2024. Executives noted that the backing demonstrates strong confidence amid a broader slowdown in technology investments.
From the founder
"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,"
Chris Fry
CFO at BankiFi
Investor perspective
"BankiFi has proven to be an industry-leading open cash management provider in Europe, Australia, New Zealand and other countries,"
David Foreman
Managing Director, Praetura Ventures
Use of funds
- 01Expand into international markets
