Canadian FinTech and certified credit card issuer Brim Financial secured $25m in a Series B round co-led by Desjardins Group and EPIC Ventures.
The round also saw participation from other investors including goeasy, White Owl and Impression Ventures.
Brim will use the new capital to boost its full suite of digital payment products and bolster its Platform as a Service (PaaS).
The firm’s PaaS enables partners including banks, credit unions and FinTech firms to tailor every feature offered by the platform such as credit cards and integrated buy-now-pay-later solutions and leverage its end-to-end services, on a modular and turnkey basis.
After it expanded beyond the direct-to-consumer space, the firm now allows partners and financial companies to leverage its platform, credit cards and financial products, as well as its rewards and e-commerce ecosystem for its customers.
Founded in 2017, Brim built a credit card infrastructure and digital platform to revolutionise the financial space.
Commenting on the funding round, Brim Financial CEO and founder Rasha Katabi said, “Our technology stack powers banking, loyalty and integrated e-commerce on a single platform, with the customer experience at the center of it all.
“Today’s digital environment has brought a new sense of urgency for institutions to assess how they will interact with their customers. We are well-positioned to be at the forefront of this transformation that’s shaping the way we live, connect and engage for decades to come, and we’re excited to be working with investors who share the same vision.”
Seconding Katabi, EPIC Ventures managing director Ryan Hemingway said, “We’re thrilled to be part of Brim’s next chapter. There is tremendous potential in the industry, both in Canada and in the US, and Brim is uniquely positioned to deliver a significant and much needed transformation.”
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