UNIPaaS, which provides payment services to digital marketplaces, has closed its first external funding round.
TPY Capital served as the lead investor, with commitments also coming from FJ Labs, NextDoor CEO Sarah Friar, Plaid COO Eric Sager, Vouch Insurance CEO Sam Hodges, angel investor Gokul Rajaram and a number of other angel backers.
Capital from the round will be used to deepen its product offering.
Israel-based UNIPaaS was created in 2020 and gives marketplaces and B2B SaaS platforms to implement their payment experiences, control funds and monetise financial systems.
UNIPaaS CEO and co-founder David Avgi said, “Digital marketplaces and B2B platforms wish to own their payment experience without the burden of developing additional tech stacks and operations or deal with regulation and licensing. We have designed an embedded payment stack, built from the ground up to facilitate complex multi-vendor models.
“Our solution gives platforms the ability to offer seamless user experience, complete control and transparency, real-time insights and the strategic value of generating new growth engines by offering additional financial services.”
Late last year, fellow Israel-based COMPANY Orca Security closed its Series B round on $55m. The platform automatically assesses the state of security on every discovered asst on the cloud, to ensure enterprises have robust cloud security.
Between 2015 and 2019, there have been 148 FinTech funding rounds in Israel.
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