- Fintech infrastructure platform Rize Money announced recently that it raised $11.4 million in Series A. These are the details.
Fintech infrastructure platform Rize Money announced recently that it raised $11.4 million in Series A funding led by Alpha Edison and Morpheus Ventures. And existing investors include Rucker Park Capital, Walkabout Ventures, Raptor Group, Revolution’s Rise of the Rest Seed Fund, Third Prime, Red & Blue Ventures, and Graham Holdings.
Rize describes itself as a one-stop shop for everything fintech builders need for building, launching, and scaling new financial products with minimal effort. And it is uniquely designed to simplify the process of building financial products by solving all of the infrastructure problems technology, integrations, economics, and compliance so that builders can focus all their efforts on creating the right product and user experience to meet the needs of their end customers.
By embedding access to bank accounts, payment processing, card issuance, and compliance in one API-driven platform, customers building with Rize experience a step function decrease in time and expenses required to bring new financial products to market. And with its proprietary Synthetic Core technology, Rize customers have far more flexibility to add new capabilities across multiple financial verticals like banking and brokerage as needed.
This funding will enable Rize to scale their team and enhance their core product to further support the needs of their clients. And other projects include further enhancing client experience tools in areas like compliance, fraud monitoring, and enhanced security. And the investment will power product launches crossing into new verticals such as brokerage, small business banking, crypto, and credit powered by their Synthetic Core.
KEY QUOTES:
“We founded Rize because we had a vision of how financial services could work in a much more customer-centric and intuitive fashion. Originally starting out as a B2C fintech, we set out with the goal to translate the highly regulated and siloed financial services industry into a set of intuitive user experiences that match how people actually think about and use money in the real world. This turned out to be a massive infrastructure problem, not just a user-experience problem.”
— CEO and Co-Founder Justin Howell
“What attracted us to Rize was their Synthetic Core technology that essentially abstracts all the plumbing required to develop a broad spectrum of fintech products and services that developers are looking to build into a simplified singular API connection. Not only is the Synthetic Core able to connect the typical pipes that are needed to provide more commonplace BaaS products such as deposit accounts, but they are inherently able to interconnect pipes that are often times siloed such as those between brokerage and deposit accounts, amongst many others, which provides for the potential of new innovative financial products and services. We are excited to partner with the Rize team to help developers transform what is possible to create and to expand the horizon where fintech products and services can reside.”
— Howard Ko of Morpheus Ventures
