Brim Financial, a frontrunner in the FinTech infrastructure arena, has recently successfully clinched $85m Series C funding.
This significant financial milestone was led by EDC Investments, with notable contributions from Vistara Growth, and saw re-investments from White Owl Group, Epic Ventures, and Zions Bank. The infusion of capital is set to propel Brim’s ambitious strategy to conquer the U.S. market, enhance its product development pace, and establish key strategic partnerships.
At the heart of Brim’s success is its modular platform and comprehensive product suite that enables financial institutions, FinTechs, and prominent international brands to dynamically adapt and enhance their product offerings. This capability ensures partners can swiftly navigate market demands while minimising the time and expenditure traditionally required for developing and maintaining sophisticated technological capabilities.
The fresh injection of funds is earmarked for accelerating Brim’s growth trajectory and facilitating its push into new international territories. Rasha Katabi, CEO and Founder of Brim, outlined the company’s vision, stating, “This funding will accelerate Brim’s growth and fuel our international expansion. We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”
Brim’s journey since its last Series B funding round includes notable milestones such as forging a transformative partnership with Mastercard to enhance credit card infrastructure through open banking in the U.S., collaborating with TrueNorth to provide Credit Cards-as-a-Service in North America, and successfully deploying its platform to major clients including Laurentian Bank and Air France-KLM. The company has also made significant inroads in the U.S. market, particularly with middle market banks.
Guillermo Freire, Senior Vice-President at EDC, praised Brim’s trajectory, stating, “Brim has all the elements for success – an innovative product, rapid growth and a visionary management team. With EDC’s investment, Brim will continue to be positioned as a market leader and drive its growth into new markets, bringing proven solutions to financial institutions and enterprises.”
Since its Series B, Brim Financial has not only enhanced its product offerings but also strategically positioned itself for robust growth in the FinTech sector, underscored by strategic partnerships and market expansion.
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