Astra Raises $10M in Series A Funding; $30M Credit Line
Summary
Astra intends to use the funds to support the expansion of its team, with a particular focus on engineering and compliance resources, to further enable faster payments from any source to any destination. Founded in 2016 by Gil Akos and Sam Morgan, the company is a provider of advanced bank-to-bank transfer technology for financial institutions, fintech startups, and enterprises. Via a lightweight API integration, Astra offers a platform that allows developers to add faster settlement and financial automation to their existing products. Developers can enable accelerated and risk-mitigated transfers without having to take compliance specifications, capital commitments, or operational costs into account. While many payment platforms provide an incomplete solution – that is, only allowing access to payment networks without added fraud prevention – Astra’s dynamic, all-in-one solution has risk mitigation and anti-fraud measures built-in, powering a level of financial functionality that was previously unattainable.