API developer Weav said to launch from stealth after $4.3m round

Weav, an API developer for commerce platforms, has reportedly launched out of stealth alongside the close of a $4.3m funding round.

The capital injection was led by Foundation Capital, with contributions also coming from Y Combinator, Abstract Ventures, Box Group, LocalGlobe, Operator Partners, Commerce Ventures and SV Angel, according to a report from TechCrunch.

A host of angel investors also contributed to the round, including Brex founders Henrique Dubugras and Pedro Franceschi, Ramp founder Karim Atiyeh, Digits founders Jeff Seibert and Wayne Chang, GoCardless founder Matt Robinson and COO Carlos Gonzalez-Cadenas and a several other startup founders.

The FinTech launched its API in January and is being used by thousands of businesses, it claims. Its API call volume has increased by 300% month over month.

Weav can be used by businesses of all sizes to connect with commerce platforms and access their customers’ standardised transactions in real-time.

Its APIs can be used for lending, real-time financial products, financial planning and analysis, identity verification, business management, payments and transfers, and more.

Foundation Capital closed its ninth fund on $350m in 2019, which is focused on supporting early-stage companies.

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