UK banking platform 3S Money has raised £3m from a Series B funding round and has hit a £40m valuation.
The funding raised from the round – led by TMT Investments – will help the company to continue its hiring process and further expand its multi-currency business accounts with GBP, USD and EUR direct IBANs into new markets.
Founded in 2017, 3S Money markets a digital business-to-business merchant banking platform that helps corporates accept and manage bank transfers in foreign markets.
According to 3S, it has seen revenue grow by more than four times during the COVID-19 pandemic and has increased its team from 15 to 40 employees, with offices in Dubai, Amsterdam, Riga, Luxembourg and London
3S Money CEO Ivan Zhiznevskiy said, “As an operationally profitable bank challenger serving a distinct segment of the market, it was great to receive such strong and quick support from the venture capital firms.
“We service mid-market clients from over 190 countries, supporting their high-value international payments through our extended correspondent network; a market that is dramatically underserved by both the pure online players and big merchant banks.”
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