Astra

Overview
News
FinTech Infrastructure?
Product stageSegments
Early
?
Banking services
?

Astra offers an API-based open banking infrastructure platform for financial institutions, FinTechs, and enterprises to enable bank-to-bank fund transfers and payments. The company aims to reduce the complexity and friction for users when accepting ACH fund transfers, as the platform covers onboarding users, creating transfer route automations, and monitoring transfers. Moreover, Astra also embeds risk mitigation and anti-fraud measures.


Through Astra, FinTechs can offer end users several solutions, including peer-to-peer transfers, funding new accounts, deposit switching, automating balance refills, and growing deposits, among others. The company claims that developers can build solutions in a week, using Astra.


Key customers and partnerships


Astra is used by several FinTechs including Yotta, Fold, Daylight, Odo, and Tandem, among others. In August 2022, the company partnered with Visa to leverage “Visa Direct,” to offer real-time payments services.


Funding and financials

Astra raised USD 40 million in funding in October 2022, comprising a USD 10 million Series A round and a USD 30 million line of credit. The funds were earmarked for investment in recruitment, entering partnerships to expand payment capabilities, and widening its infrastructure to encompass new verticals like investing and lending.

HQ location:
Menlo Park CA USA
Founded year:
2016
Employees:
11-50
IPO status:
Private
Total funding:
USD 14.9 mn
Last Funding:
USD 10.0 mn (Series A; Oct 2022)
Last valuation:
-
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