The investment round was led by Bank of America and Edenred Capital Partners to support expansion into the United States.
"Banked has built a product that can operate inside tier 1 banks, payment providers, gateways and technology platforms to allow them to offer Pay by Bank to their merchants. We have had a maniacal focus on infrastructure, security, and end consumer experience. Our clients only need to focus on integration. We really want to work inside the existing ecosystem and are building out very strong partnerships to deliver Pay by Bank globally. 2022 will see some really big brands go live with Pay by Bank, driving at the heart of delivering innovation at point of purchase to both the merchant and consumer"
The seed round was co-led by Giant Ventures and Armilar Venture Partners to support expansion into the UK and Europe.
"We are incredibly excited to have secured such high calibre investors and to have received the continued support of our existing investors, who all believe in our mission of removing barriers to education and empowering economic mobility. With StudentFinance, it takes an average of just four months for reskilled students to find more lucrative employment compared to the UK market average, where the majority of graduates only find employment up to 15 months on from completing their studies. The pandemic has only reinforced the need for solutions that enable people to access quality education to secure employment opportunities and we are making it a reality."
The funding round was co-led by MiddleGame Ventures and Ventura Capital to support international growth and product expansion.
"We are thrilled to have the support of world-class investors who bring a highly strategic network to help us continue with the vision (with zero pivots) that Clive [my co-founder] and I started with in 2016."
The open banking platform has secured £8.1m in Series A funding led by Moneta Capital to expand its global operations.
"We are delighted to welcome our new investors who join our amazingly supportive investor list. Railsbank is at a key stage of its development and we are moving into a period of sustained expansion. Our industry leading products and highly skilled management team are being leveraged across a growing customer base, and we are continually being presented with opportunities on a global scale."
