London-based payments startup Banked launches out of beta phase after securing another €2.69 million
Summary
The fintech startup Banked set out to challenge the dominance of established players in the payments sector as it launches out of beta after securing another €2.69 million in seed funding. It has now raised a total of €6.13 million and the latest investment was led by Force Over Mass, with participation from Backed, Acrew Capital (San Francisco based) and high net worth partners including the family office of serial investor and co-founder of indeed.com, Paul Forster. By offering payments in real time, Banked enables merchants and customers to receive money from transactions as they happen, meaning they no longer have to wait days and weeks to see the funds. The Banked founders are convinced that the infrastructure of those established players was not built for the digital world, and is expensive, slow and highly susceptible to fraud. We want to be at the forefront of this new age and will be rolling out our service across the UK and the EU with invaluable support from Force over Mass and our other investors.” Filip Coen, partner at Force Over Mass, added: “The team at Banked have identified product market fit across a number of verticals including e-commerce, B2B payments and big money industries such as gaming, trading and retail.