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 funding round was led by Blackstone Innovation Investments to accelerate the platform's expansion.
"The growing requirement by Private Capital firms to have the highest efficiencies, while dealing with complexity in an agile manner is becoming more of a prerequisite for staying ahead in the market. Firms are looking for ways to deliver efficient, accurate content to clients with the goal to ultimately provide the highest level of client service in a timely manner. There is no longer the leeway to process calculations outside of systems, manually post multiple transactions, or run separate solutions for the end-to-end accounting and middle office."
— Jamie Nascimento, Co-Founder and Chief Commercial Officer
Sidekick Partners led the seed round with participation from prominent software founders to fuel expansion across North America and Europe.
"We are pleased to have completed a highly successful funding round, and to have the support of such well-renowned investors. For more than 20 years, I’ve seen an astonishing amount of financial data inside legacy applications or spreadsheets that do not communicate and that are insecure. LemonEdge’s low-code platform delivers the next generation of private equity performance and accounting software, without dependence on workarounds. LemonEdge is 10x faster to develop and deploy, and it is scalable, adaptable, and secure."
— Gareth Hewitt, Co-Founder and Chief Executive Officer