ClickSWITCH secures $21m in its Series B round

ClickSWITCH, which streamlines the digital financial account switching, has closed its Series B-2 funding round on $21m.

The capital was supplied by a subsidiary of USAA, a provider of insurance, banking and retirement services for military members and their families.

Funds from the round will enable the company to increase the development of its technology and the launch of new products. ClickSWITCH also plans to hire between 10 to 20 new staff members by the end of the year.

The FinTech helps financial institutions to onboard customers quickly by letting customers switch their direct deposits and automatic payments to new accounts through a simple click process.

USAA head of Corporate Development Nathan McKinley said, “Our mission is finding and delivering the best value in financial services for our military members, so they can take care of what’s important in their personal lives. We were impressed by ClickSWITCH’s commitment to solving a persistent consumer problem and we look forward to helping them grow.”

With the close of the round, the company has raised a total of $21m in funding.

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