London-headquartered technology business Weavr has announced the close of a $40 million funding round led by Tiger Global.
Weavr aims to disrupt the existing banking-as-a-service model by making embedded financial services available to any business with a digital presence.
The FinTech said that the money will support its international expansion plans to the US and boost existing growth in the UK and mainland Europe.
This marks the company's third funding round in 18 months for a total of $55 million.
"We believe an increasingly digital world works better when financial services are provided seamlessly within digital applications," said Alex Mifsud, co-founder and chief executive of Weavr. "Plug-and-Play Finance is the fastest, easiest and most efficient way for businesses to accomplish this.
"In the past, industry disruptors, like Uber and Amazon, had no choice but to build their finance integrations from the ground up in what was a costly, complex and time-consuming process. Weavr shortens the time to launch embedded financial solutions from many months, or years, down to weeks or even days, while eliminating the hassle of managing compliance and data security.”
Latest News
-
Santander to acquire TSB for £2.65bn in strategic UK expansion
-
Bitget Wallet and Mastercard to launch zero-fee crypto card
-
British Business Bank launches initiative for female investors
-
Lloyds Bank explores use of neurosymbolic AI across group
-
BBVA pushes ahead with Sabadell takeover despite government merger restrictions
-
Yonder rolls out debit cards
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories