- Wise — a leading embedded banking FinTech company that offers business banking via partnerships — announced that it has raised $12 million in Series A funding. These are the details.
Wise — a leading embedded banking FinTech company that offers business banking via partnerships — announced that it has raised $12 million in Series A funding. This round of funding was led by e.ventures with participation from Grishin Robotics and with continued investment from seed investors: Base10 Partners and Techstars.
This round of funding comes about six months after a $5.7 million seed round. Wise had raised the Series A funding to accelerate growth and partnerships across several verticals and to extend its breakthrough technology to support a fully-managed and first-of-its-kind embedded banking experience. Including this funding round, Wise has raised $18 million to date.
Along with this round of funding, Wise has also signed several new partnerships where leading B2B companies are able to seamlessly offer banking, within their product experience, greatly expanding the value to their business customers.
And before Wise, launching a banking offering could take months or years in some cases. But now, SaaS B2B companies launch banking powered by Wise with no-code and in just a few days, with the entire program managed and serviced by Wise.
KEY QUOTES:
“We built banking so our partners don’t have to. By embedding banking, Wise unlocks deep product offerings and better customer experiences for our partners. e.ventures built a thesis on exactly this, and we agree 100%.”
— Arjun Thyagarajan, Co-Founder and CEO at Wise
“Business banking has been broken for far too long. Poor user interfaces, payments delays, unnecessary fees, a lack of integrations, the list goes on and on. The team at Wise is bringing an Apple-like experience to the world of business banking with an embedded product that brings banking to where one’s business is managed.”
— Brendan Wales, Partner at e.ventures
“In a world where more people are working remotely than ever before, it is important for RemoteTeam to provide its customers with a modern, instant payroll experience. Embedding banking solves a major pain point that makes RemoteTeam a standout offering in the payroll industry.”
— Sahin Boydas, CEO at RemoteTeam and a Wise partner
“Embedded experiences drive product engagement through the roof! It is a win-win-win proposition for everyone involved – Wise, its partner, and the small business that lives inside the partner ecosystem.”
— Raghav Lal, President at Wise
“We’re thrilled by Wise’s continued progress developing strategic partnerships with large SaaS partners. This funding will accelerate Wise’s product and go-to-market efforts, so that they can continue to redefine the business banking experience for many more real economy businesses.”
— Rexhi Dollaku, Principal at Base10 Partners
