Banking Infrastructure

Mercantile, an industry-specific credit card platform designed to meet the unique needs of small businesses, has launched with $15m in Series A funding.

Ayoconnect, an Indonesia-based open finance platform, has raised $13m in an extension of its Series B funding round.

Northstar, a financial wellness benefit platform, has secured $24.4m in a funding round led by GGV Capital.

TripActions, an all-in-one travel, corporate card and expense management company, has raised $300m in Series G funding.

GoHenry, a prepaid spending card for children, has scored $55m from a recent financing round to push forward plans for global expansion.

Tink, European open banking platform, has partnered with money saving app Snoop to help UK customers save money on bills.

FlapKap, a tech-enabled revenue-based financing platform aiming to revolutionise ecommerce growth, has bagged $3.6m in a seed round.

OatFi, a New York-based company that provides working capital infrastructure for B2B payment platforms, has raised $8m in a seed funding round.

BankiFi, a provider of embedded banking solutions for small-to-medium size businesses (SMBs), has partnered with progressive financial institution Axiom Bank to “make banking better”.

 One in five FinTechs are losing $11m each year in product delays due to banking-as-a-service (BaaS) providers, a report from ClearBank claims.