Banked raises $20M Series A led by Bank of America and Edenred for US expansion –
Summary
Businesses use it to drive customer engagement and loyalty with incentives and rewards embedded inside the payment process. It’s now raised a $20 million Series A funding round led by Bank of America and Edenred Capital Partners. Existing investors Acrew, Force Over Mass, Firestartr, OM2, Love Ventures, Kuvi Capital and Paul Forster (founder of Indeed.com) also participated again. This means Banked has raised a total investment to date of more than $30 million. Brad Goodall, Banked CEO, told me: “We are building a branded network for the benefit of all merchants and consumers — merchants who work with us benefit from being part of the ecosystem for example a more seamless checkout, customer awareness and comfort with the payment method — alongside all the obvious benefits fo much cheaper payments, lower fraud, instant refunds etc.”