BankiFi, a provider of embedded banking solutions for small and medium-scale businesses, has secured 4.8 million-dollars investment for global expansion into North America. The investment gives BankiFi the capital to provide its embedded banking platform to over two million small and medium-scale businesses across four continents by 2024.
Keith Riddle, chief executive officer of BankiFi Americas, said that technology investments have been decreasing this year, and to see their investors showing such commitment is a huge vote of confidence in the direction and growth of BankiFi. Keith Riddle also said their goal is to make all aspects of cash management, and payments easier for small and medium-sized businesses everywhere, and this investment is another big step in making it a reality.
This investment is unique as all the investors are existing shareholders, which proves their confidence in the ability of BankiFi to help the financial institutions of North America benefit from its technology.
This funding is led by Praetura Ventures, whose goal is to help companies reach their potential with both operational and financial support. David Foreman, managing director of Praetura Ventures, said BankiFi has proven to be a leading open cash management system provider in Europe, New Zealand, Australia, and several other countries in the world.