Elevar Equity Leads US$5.25m Investment in Uruguayan Fintech Bankingly
Summary
Furthermore, given that its fully customizable, secure and cloud-based SaaS digital banking solution can be integrated remotely, the company has begun and will continue to expand into Europe and Africa, where more than 200 million people are underbanked or unbanked. “Backed by an extraordinary team, Bankingly’s affordable, secure and sophisticated omnichannel platform allows financial institutions, regardless of size, budget and sophistication, to offer services beyond their regular branch-based operations, expand their reach and increase customer satisfaction.” “Enabling financial health and inclusion through great digital experiences is our mission and having Elevar Equity, The Rise Fund and Endeavor Catalyst on board not only provides us the capital but most importantly the insight, access and network that we need to execute on our mission around the world,” said Martin Naor, Founder and CEO of Bankingly. “The Bankingly team is really excited to start this new phase for the company and enriching the financial lives of even more people.” The current round of funding will be used to expand sales and build out new product features as a continued effort to scale the business. The board includes: Bill McGlashan, TPG Growth Founder and Managing partner; Bono, Jeff Skoll, Mo Ibrahim, Laurene Powell Jobs, Anand Mahindra and Pierre Omidyar. The Rise Fund invests in education, energy, food and agriculture, financial services, growth infrastructure, healthcare, and technology, media, and telecommunications companies that deliver complete returns.
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