Brim Financial – a leading fintech infrastructure company transforming the credit card platform and payment automation space – announced the closing of an $85 million Series C funding round on the back of strong revenue growth, rapidly growing market share, and expansion into the business and commercial segments.
This funding round was led by EDC Investments and included strong participation from Vistara Growth along with return investors White Owl Group, Epic Ventures, and Zions Bank. This landmark financing will drive Brim’s U.S. expansion strategy, extending its market reach, accelerating product development, and forging strategic alliances.
Brim’s scalable product suite fully empowers financial institutions, fintechs, and large international brands to run and evolve their product platforms to meet customer and market needs. And Brim’s leading technology enables these partners to significantly decrease the time to market while reducing the cost and challenges associated with building and maintaining advanced capabilities independently.
Since closing the Series B funding round, Brim has:
— Entered into a transformational partnership with Mastercard, including integrating its open banking capabilities to modernize credit card infrastructure in the U.S.
— Formed a strategic partnership with TrueNorth to deliver Credit Cards-as-a-Service platform to North American financial institutions and fintech customers.
— Successfully rolled out credit-card-as-a-service (PaaS) to banks, credit unions, and major international brands, including Laurentian Bank, Affinity Credit Union, CWB, and Air France-KLM.
— Expanded strong momentum in the U.S. market with middle-market U.S. banks.
The company plans to ramp up hiring across all functions to support product and customer growth.
KEY QUOTES:
“This funding will accelerate Brim’s growth and fuel our international expansion. We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”
– Rasha Katabi, CEO and Founder of Brim
“Brim has all the elements for success – an innovative product, rapid growth and a visionary management team. With EDC’s investment,Brim will continue to be positioned as a market leader and drive its growth into new markets, bringing proven solutions to financial institutions and enterprises.”
– Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC
