Cogni, digital banking platform aimed at enhancing consumer lifestyles, has raised $23m in Series A funding.
The strategic round was led by Hanwha Asset Management and CaplinFO with participation from Solana Ventures, FTX Ventures, Ship Capital, Thirty Five Ventures, ROK Capital, Bluewatch Ventures, and Alsara Investment Group.
With a rise in demand for banking services offering a centralises suite of product and services, Cogni said it is focussed on bridging the gap between Web2 and Web3 capabilities for an “optimal modern customer experience.”
Cogni aims to provide easy, transparent and accessible digital banking and lifestyle services on a single platform.
Cogni said it will use the funds to continue to build the core Cogni technology and infrastructure, gain new users on the platform, expand its suite of products and hire new talent.
Archie Ravishankar, CEO and founder of Cogni, said, “When building Cogni, I wanted to create a platform that was relevant and relatable to the way people engaged with their lifestyle. When I thought about my own needs, and those of the people around me and the way we interact with the world, I figured we needed to build a banking platform that aligned with those personalised needs, including this incredible migration into and at the intersection of the Web2 and Web3 spaces.”
In addition to offering free banking services, Cogni provides discounted digital gift cards and the ability to track carbon emissions based on their transactions. Cogni provides access to more than 1,500 brands including Adidas, Sephora, Carnival Cruise, Hotels.com, DSW, Air BnB, Hulu, Spotify, Southwest Airlines, and more, allowing customers to purchase deeply discounted digital gift cards for purchases that align with their lifestyle.
In the coming months, Cogni said it will focus on building out its Web3 capabilities to give users access to an even more comprehensive and compatible banking platform. Specifically, Cogni will offer a multichain wallet, as well as a high-yield savings account that the company claims will outperform most savings accounts currently on the market.
Copyright © 2022 FinTech Global
