BankiFi secures $4.8m Investment for expansion

For its international growth into North America, BankiFi, a top supplier of embedded banking solutions for small and medium-sized businesses (SMB), has raised $4.8 million. By 2024, BankiFi will have the resources to offer its market-leading embedded banking platform to more than two million SMBs on four continents thanks to this strategic growth investment.

To solve the unique difficulties of their SMB portfolio, BankiFi offers an open cash management platform and architecture that financial institutions may integrate into their present digital banking infrastructure. The investment is distinctive because every investor is already a shareholder, demonstrating their belief in BankiFi’s capacity to enable North American financial institutions to take advantage of its technology.

“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.”

Praetura Ventures, whose goal is to provide businesses with both financial and operational support so they may realise their potential, is the investment round’s lead investor.