Astra, a provider of instant card-to-card funding-as-a-service, has raised $10m in a Series A funding round led by FPV Ventures.
Also participating in the round were Slow Ventures and Allegis Capital, as well as a $30m line of credit through CoVenture.
Through a lightweight API integration, Astra offers a platform that allows developers to add faster settlement and financial automation to their existing products.
Develops can enable accelerated and risk-mitigated transfers without having to take compliance specifications, capital commitments or operational costs in as little as a week of implementation time.
According to Astra, the Series A will support the expansion of its team, with a particular focus on engineering and compliance resources in order to further enable faster payments from any source to any destination.
The company also aims to extend its payment solutions to sizeable enterprises as it grows its customer base in investing, lending and B2B industry verticals and expand their embedded payment capabilities with other FinTech infrastructure providers.
Astra CEO and co-founder Gil Akos said, “Time to money is one of the most vital metrics for fintechs, financial institutions, and marketplaces. How quickly a user is able to complete the onboarding process, fund their account, and begin spending money are critical aspects that will likely impact a user’s activity level.
“Astra has earned a reputation for offering one of the simplest and most effective instant funding and payment automation solutions on the market to speed up these processes. With this new capital, we are excited to not only grow our portfolio of solutions but to bring faster money movement capabilities to a larger customer base.”
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