Highline Technologies, a payments FinTech that unlocks payroll-linked lending and billpay, has raised $13m from a Series A funding round.
The round was headed by Jump Capital, Costanoa Ventures, Foundation Capital and other investors not named.
Highline claims its payments platform allows consumers to easily automate bill payments directly from their paycheck, helping to avoid missed payments and overdraft fees.
The firm said its solution enables consumer lenders to improve portfolio performance, allowing them to expand approvals, reach more potential customers and grow revenue while reducing risk. Additionally, Highline extends payroll-linked lending to any asset class, where historically it was limited to only personal loans.
Following the company’s successful seed funding raise last year, the firm has continued to grow at a fast pace and has doubled its team over the first half of 2022 alone. Over the past year, Highline completed the build of its platform and launched early clients in the personal loan, lease-to-own, retail and credit card industries.
Highline said the recent influx of capital will support its continued growth, including additions to staff, more strategic partnership opportunities and expanded market adoption of its products and services.
Highline CEO and co-founder Geoff Brown said, “We are grateful to our investors and excited by the possibilities that this round of funding represents. It will enable us to continue building a world-class team and connect with a growing number of customers and partners throughout the industry who are equally committed to providing more borrowers with access to the credit and banking services they deserve.”
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