Granite Ventures has been helping early-stage technology companies build solid foundations for success since 1992. T Granite has invested over $1 billion in more than 90 private companies. They partner with promising and successful entrepreneurs to create businesses that have a competitive edge and help them achieve category leadership.

Granite Ventures

83North is a global venture capital firm with more than $1.8B million under management. The firm invests across all stages of consumer and enterprise companies and backed some of the fast-growing category leaders. 83North has two main offices in London and Herzliya.

83North

Greylock Partners invests in entrepreneurs that focus on consumer and enterprise software companies. The firm invests in companies that define new markets, including Airbnb, AppDynamics, Apptio, Arista Networks (NYSE: ANET), Cloudera, Docker, Dropbox, Facebook (Nasdaq: FB), LinkedIn (NYSE: LNKD), Medium, Nextdoor, Palo Alto Networks (NYSE: PANW), Pandora (NYSE: P), Pure Storage, and Workday (NYSE: WDAY). It was founded in 1965 and headquartered in Menlo Park, California.

Greylock

At Commerce Ventures, they are building a new and different type of venture capital firm. Their investors are a unique and strategic blend of leading entrepreneurs, senior executives, and corporates from their focus sectors (mobile, retail/e-commerce, payments, fin-tech, insurance). In addition to providing capital, they are committed to helping their portfolio companies succeed in scaling their commerce-related innovations.

Commerce Ventures

Hard Yaka makes early round investments in exchange space startups. Candidates are either verticals in particular categories of exchange markets or horizontals providing services (i.e. messaging or payments) across exchange sectors.

Hard Yaka

IA Capital is the longest-tenured independent venture capital firm focusing on insurtech. Based in New York City, IA Capital has a two-decade track record of successfully partnering with innovative early and growth stage companies in insurance and—more broadly—financial services. IA Capital manages strategic venture capital programs for 16 insurers.

IA Capital Group

CommerzVentures specializes in early- and growth-stage companies in the financial services and insurance sectors. Established in 2014 as the venture capital fund of Commerzbank. Independent investment management company since 2019. CommerzVentures is a return-driven, non-strategic venture capital investor. We back early- and growth-stage companies in the financial services and insurance sectors, starting at Series A. We aspire to invest in the very best startups in a given sector. For their portfolio companies, we offer access to key decision makers across the banking and insurance industry. Our initial investment size ranges from €2 million to €10 million. We invest mostly in Europe, Israel, and the USA, and are always looking to work with entrepreneurs who have vision and enthusiasm!

CommerzVentures

Black River Ventures (BRV) is committed to supporting passionate entrepreneurs who build disruptive, world-changing companies. We believe that only exceptional and capable teams can turn great ideas into outstanding businesses. Black River Ventures is investing into innovative companies across the European technology space, primarily in the IT and Internet segments. We are convinced that the European online audience of 400M+ people, the second largest market after China, provides appealing opportunities for Europe-born global companies. We partner with early and growth stage visionary companies aiming to become industry leaders. Our mission is to provide smart capital for long-term growth by leveraging the collective experience and expertise of the BRV team based in the EU and US.

Black River Ventures

Visa is an American multinational financial services company that facilitates electronic payment systems throughout the world. The company operates the retail electronic payments network through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.   Visa also provides electronic payment, risk management, and payment security solutions to online merchants; digital goods transaction services in online games, digital media, and social networks; and mobile financial services for mobile network operators and financial institutions in developing economies.   Visa’s global payment brands include Visa, Visa Electron, PLUS, and Interlink. Together they provide payment options through credit, debit, prepaid, and commercial programs in 200 countries and territories. Visa's global network, VisaNet, delivers value-added processing services such as fraud and risk management, dispute resolution, rewards, and other business-enhancing applications.

Visa

CE Innovation Capital is an investment firm that provides digital innovation and wealth management services. Founded in February 2016, CreditEase FinTech Investment Fund (“CEFIF”) is a venture fund investing in FinTech companies globally. CEFIF has an equivalent of $1 billion in the total committed capital. The fund invests in five sub-segments within the domain of FinTech: Lending, Payment, Personal Finance/Wealth Management, Enterprise Solutions, and Insurance.

CreditEase Fintech Investment Fund

The Goldman Sachs Group, Inc. provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. Its Investment Banking segment offers financial advisory services, including advisory assignments concerning mergers and acquisitions, divestitures, corporate defense, risk management, and restructurings and spin-offs; and underwriting services comprising public offerings and private placements of a range of securities, loans, and other financial instruments, and derivative transactions. The company’s Institutional Client Services segment provides client execution services, such as fixed income, currency, and commodities client execution related to making markets in interest rate products, credit products, mortgages, currencies, and commodities; and equities related to making markets in equity products, as well as executes and clears institutional client transactions on stock, options, and futures exchanges. This segment also engages in the securities services business providing financing, securities lending, and other brokerage services to institutional clients, including hedge funds, mutual funds, pension funds, and foundations. Its Investing and Lending segment originates longer-term loans; and invests in debt securities, loans, public and private equity securities, real estate, consolidated investment entities, distressed assets, currencies, commodities, and power generation facilities. The company’s investment management segment provides investment products and services, as well as offers wealth advisory services, including portfolio management and financial counseling, and brokerage and other transaction services.

Goldman Sachs

Lauder Partners, LLC is an entity investing in various realms of the technology field. Lauder invest both directly in companies as well as in funds - both venture and others. Since it primarily invests the capital of Gary Lauder and family members, we don't provide much information to the public.

Lauder Partners

ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive global impact and change. The firm is inspired by visionaries defining the future of their industries by building company cultures that endure. ICONIQ Growth has a unique investment platform harnesses the power of ICONIQ Capital’s vibrant ecosystem of founders, pioneers, and business leaders with the goal of delivering tangible value and amplifying our portfolio companies’ success from early growth stage to IPO and beyond. ICONIQ Growth’s portfolio of innovators includes Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others.

ICONIQ Growth

GoldenArc Capital is a Silicon Valley based funding firm built to identify and invest in the next generation of driving private development stage technology companies. The firm's portfolio has generated top-tier returns with investments in more than 20 companies and achieved 4 IPOs to date with several more in the IPO pipeline

GoldenArc Capital

Spark Capital is an early stage venture capital firm. We invest in phenomenal products we love and the creative humans behind them. We do things a little differently and aren't afraid of risk. Spark-backed companies include Twitter, Discord, Anthropic, Cruise, Niantic, Oculus, Warby Parker, and tumblr. We know there are no playbooks or formulas for success and are here to help founders win their own way. We invest across all sectors and stages, and work out of San Francisco, Boston, and New York City.

Spark Capital

Lone Pine Capital is an investment adviser that invests in equities and equity-related securities. It focuses on developing an investment platform that distils global, cross-sector idiosyncratic, and thematic research into concentrated portfolios in public or private markets. Stephen Mandel Jr., the low-key president and founder of Greenwich, Connecticutâ€“based Lone Pine Capital, returns a paltry 166 hits. Buying Google shares, however, has generated huge returns for many hedge fund managers, including Mandel.

Lone Pine Capital

Vitruvian Partners is an equity firm that specializes in middle-market buyouts, growth buyouts, and growth capital investments.  Independent private equity firm that specialises in middle-market buyouts, growth buyouts and growth capital investments in the UK and elsewhere. The company backs exceptional management teams in businesses where there is a major opportunity to create strategic value. They seek out companies where this opportunity exists through change or “Dynamic Situations”.

Vitruvian Partners

ICONIQ Capital is a privately-held investment firm that serves some influential families and organizations. The firm is a trusted advisor and thought partner, facilitating meaningful strategic relationships across investment opportunities, family governance, and global impact. ICONIQ provides financial advisory and family office services, and manages direct investments across asset classes, with a specific focus on technology growth equity, venture capital, middle-market buyout, and real estate.

ICONIQ Capital

Coatue is a privately owned hedge fund sponsor. The firm invests in the public equity markets globally focusing on investments in technology, media, and telecommunications in addition to other sectors. It employs a long or short strategy to make its investments.

Coatue

CreditEase is a business consulting firm that offers wealth management services. It caters areas such as wealth management, credit management, microfinance investment, and microcredit loan origination, and servicing. It operates a peer-to-peer platform that connects lenders with creditworthy borrowers, enabling under-banked students, professionals, and farmers to get loans. The company was founded in 2006 and is based in Beijing, China. CreditEase is a leading FinTech conglomerate in China, specializing in inclusive finance and wealth management, including payment technology, marketplace lending, crowdfunding, robo-advisory, insurance technology, and blockchain products and services. CreditEase actively engages with global FinTech innovators through business incubation, commercial cooperation and investment.

CreditEase

Geodesic Capital is a venture capital firm that provides mid and later-stage investments to firms in the consumer technology industry. They assist entrepreneurs who are expanding into Asia, beginning with Japan. They provide unrivalled access to senior-level executives, partners, and government officials that portfolio firms require to prosper abroad.

Geodesic Capital

Greyhound is a specialist growth equity investment firm. By focusing on long-term concentrated investments, we partner with outstanding management teams to help build enduring companies that improve everyday lives. The firm manages assets on behalf of institutional investors, non-profit organizations and individuals. Since 2017, Greyhound has backed notable companies including Revolut, Guideline, Freee, Brex, Toss, TravelPerk, N26, Weee!, Satispay, DriveWealth and WealthNavi.

Greyhound Capital

Marqeta

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

<div>
 
 Marqeta is a card issuing platform that provides the infrastructure for enterprises to offer physical and digital payment cards through its open application programming interface (API). It entered the card-issuing market in 2010 and was the first startup to do so in around two decades in the US. In addition to its API and infrastructure, Marqeta also enables its enterprise customers to issue cards, authorize transactions, and manage payment operations. Marqeta also introduced a &ldquo;RiskControl&rdquo; solution in April 2022, to help its card issuing customers with risk, compliance, and fraud management.&nbsp;&nbsp;
 
 
 
 
 Marqeta noted that its platform is a scalable platform with built-in redundancy, failover, and 99.99% uptime. Moreover, the company has a global presence, with more than 800 employees based across the globe as of June 2023. However, in May 2023, the company announced plans to lay off around 15% of its workforce, in order to drive profitability. The platform was available in over 40 countries as of July 2023, when it 
 <a href="https://sp-edge.com/updates/20016">
 partnered with Brazilian BaaS infrastructure provider Fitbank
 </a>
 to expand its offering to Brazil.
 
 
 
 
 The company 
 <a href="https://sp-edge.com/updates/14021?industryIds=53">
 launched &ldquo;Marqeta for Banking&rdquo;
 </a>
 in October 2022, which comprises several banking infrastructure solutions, including demand deposit accounts, direct deposits, ACH (
 <a href="https://sp-edge.com/updates/8543">
 with Plaid integration
 </a>
 ), cash loads and fee-free ATMs, Bill Pay, and instant funding. Marqeta also introduced an external-facing generative AI tool - &ldquo;Marqeta Docs AI&rdquo; (powered by OpenAI&rsquo;s LLMs) in August 2023, to enable users to navigate through Martqeta&rsquo;s Docs and reduce their overall time to value.&nbsp;
 
 
 
 
 Marqeta subsequently 
 <a href="https://sp-edge.com/updates/16018?industryIds=53">
 acquired Power Finance, Inc
 </a>
 ., a credit card program management platform, for USD 275 million in January 2023 (completed in February 2023). Through the acquisition, Marqeta plans to improve its credit products offering for its customers, by combining its rewards innovations with that of Power&rsquo;s and leveraging the latter&rsquo;s data science toolbox and solutions to embed experiences within mobile and web apps.&nbsp;
 
 
 Key customers and partnerships
 
 
 
 
 In March 2020, upon earning the certification to process payments in 10 Asia-Pacific nations, Marqeta expanded its operations to Australia in partnership with 
 <a href="https://sp-edge.com/companies/35375">
 Klarna
 </a>
 (a buy now and pay later platform) as the first step of its Asia-Pacific expansion. The two companies expanded on this partnership to provide their joint offering to 13 European countries in December 2021. Subsequently, in 
 <a href="https://sp-edge.com/updates/11807">
 July 2022, Marqeta partnered
 </a>
 with 
 <a href="https://sp-edge.com/companies/1035364">
 Canopy Servicing
 </a>
 to offer buy-now-pay-later (BNPL) and lending solutions to banks, credit unions, and enterprise fintechs.
 
 
 
 
 Marqeta was chosen by Google in July 2021, to power the virtual &ldquo;Google Play&rdquo; balance card. Moreover, in June 2022, cross-border money movement giant, Western Union adopted Marqeta&rsquo;s infrastructure to launch physical and virtual cards (for fund disbursements).&nbsp;
 
 
 
 
 In March 2023, Marqeta 
 <a href="https://sp-edge.com/companies/64287">
 partnered with WorkWhile
 </a>
 , a labor technology company, to offer a new debit card solution for the latter&rsquo;s hourly workers enabling them to access their wages as soon as their shift hours are approved. Additionally, WorkWhile workers will be able to tokenize the card into a mobile wallet, while the company takes care of know-your-customer (KYC) onboarding and disputes. The company stated that the card will be made available in Q3 2023.&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 Marqeta had issued around 320 million cards as of March 2021. The company reportedly processed transactions worth around USD 166 billion through its platform, in 2022. Accordingly, the company&rsquo;s revenue reached 
 <a href="https://sp-edge.com/updates/16716">
 USD 748.2 million in 2022
 </a>
 ; however, it was yet to turn profitable (adjusted EBITDA was a negative USD 41.8 million).&nbsp;
 
 
 
 Marqeta raised an undisclosed sum as an investment from MasterCard in October 2020. Along with the investment, MasterCard intended to extend its partnership with Marqeta, which commenced in 2014, to expedite Marqeta&rsquo;s international expansion, launch additional card programs, and launch new products.&nbsp;
 
 
 
 
 In June 2021, the company was listed on the Nasdaq and raised USD 1.2 billion through its IPO, at a valuation of USD 15.2 billion. 
 
</div>

ConnexPay transforms payment acceptance and issuance for Travel and E-commerce providers which act as intermediaries. By offering clients a revolutionary way to minimize risks and reduce credit and debit card acceptance costs through linked real-time payments issued to suppliers, ConnexPay’s clients avoid the need for large lines of credit or personal guarantees. ConnexPay provides a comprehensive, integrated payments solution which incorporates powerful anti-fraud detection along with PCI-certified payment acceptance and payment issuance — driven by ConnexPay’s patent pending intelligent routing and single-use virtual cards — to handle every step of the process. Through a single provider under a simple contract, Travel and E-commerce providers can accept payments from clients and issue payments to suppliers with single-use virtual cards from multiple major card brands. ConnexPay’s advanced solution does not require clients to obtain large lines of credit, provide large reserves, or prepay for most services. Their difference makes all the difference.

The secure payments engine for online merchants, e-commerce platforms and marketplaces.  Partnering directly with acquirers and marketplaces, Paycast enables a new way for buyers to complete transactions and online sellers to receive funds in a protected and totally secure manner. Paycast is the payments hub and digital wallet to online sellers, freelancers and gig-economy workers who sell their goods and services on C2C and B2B marketplaces around the world. Created in 2020, Paycast is the consumer facing proposition of the Shieldpay Group. Shieldpay was founded in 2016 and has quickly become a global leader in securing high-value transactions. The multi award-winning payment settlement engine is revolutionising multiple industries including real estate and mergers and acquisitions. Shieldpay and Paycast are authorised and regulated by the Financial Conduct Authority (FCA) for payment services in the UK and available across Europe, the USA and Asia.

Shieldpay is a market leader in digital payment solutions across the legal, financial and professional services industries.  We offer a number of solutions including Third-Party Managed Accounts, Escrow, Paying Agent and integrated solutions – all utilising our unique settlement engine and easy-to-use platform.   With Shieldpay, you can complete your transactions with confidence. Alongside streamlined and robust verification checks on all transacting parties, our digital platform enables businesses to operate efficiently and compliantly within increasingly pressured regulatory environments.  Shieldpay’s solutions are used by clients of all sizes, from top 100 law firms and lenders to single partner firms and everything in between. Our APIs power transactions for other pioneering fintechs and legaltechs, equity management platforms and fundraising platforms.  Awards   Modern Law Combatting Fraud Award 2020  Tempo Top 50 startups to work for in London in 2021  and 2022 LegalEx Conveyancing Award 2019   Modern Law Innovation of the Year 2019   The ESTAS Conveyancer Award 2019   Innovate UK grant 2018   Barclays Entrepreneurship Award 2018   VISA PAY360 PayTech Innovation Award 2018   RegTech Spotlight Award for Financial Crime 2017   Mastercard Startpath participant 2018   Barclays Accelerator Techstars 2017   Shieldpay is fully authorised and regulated by the FCA for payment services and HMRC for trust services.

The SPG group of companies was formed in 2016 with the original concept of securing high value peer-peer payments such as cars, art and jewellery with a simplified digital escrow solution. By 2021, SPG and its two primary assets Shieldpay (ww.shieldpay.com) and Paycast (www.paycast.io)  had processed over $2.3bn of payments for clients and customers all over the globe and has pioneered the development of contingent based payments in huge sectors such as M&A, fundraising, B2B and supply chain transactions, real estate and marketplaces.

Afilio creates and manages pension and estate documents for the future. The company platform focuses on the automated creation and management of pension documents, including registrations of any kind in the Central Pension. They offer insurance management services, enabling users to protect themselves and their family members.

Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card-issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards, and authorize and settle transactions. Marqeta is headquartered in Oakland, California, and is certified to operate in 40 countries globally.

<div>Marqeta is a card issuing platform that provides the infrastructure for enterprises to offer physical and digital payment cards through its open application programming interface (API). It entered the card-issuing market in 2010 and was the first startup to do so in around two decades in the US. In addition to its API and infrastructure, Marqeta also enables its enterprise customers to issue cards, authorize transactions, and manage payment operations. Marqeta also introduced a &ldquo;RiskControl&rdquo; solution in April 2022, to help its card issuing customers with risk, compliance, and fraud management.&nbsp;&nbsp;</div>

<div>
 
 Cross River Bank provides a white-label banking-as-a-service (BaaS) platform for enterprises, combining banking services, payments, and marketplace lending infrastructure to build fintechs. Its solutions comprise demand deposits, savings accounts, credit and debit cards, and payment clearing services, including automated clearing house (ACH) and real-time payments. The company also provides banking and payment infrastructure for the crypto industry, including risk management services for its crypto clients.
 
 
 
 
 Key customers and partnerships 
 
 
 
 
 As of December 2020, the company had over 400 employees, and had entered into more than 30 partnerships. Moreover, as of March 2021, the platform had been used to support over 375,000 small businesses through the paycheck protection program (PPP).
 
 
 
 Cross River Bank teamed up with UK-based BaaS provider 
 <a href="https://sp-edge.com/companies/421515">
 Railsr
 </a>
 in January 2019 to launch a common API for their platforms to be used globally. As of April 2022, Cross River had over 80 clients including lenders such as Affirm, Best Egg, and Upstart, neobanks such as 
 <a href="https://sp-edge.com/companies/220119">
 Revolut
 </a>
 , and blockchain-based payment processing platform GreenBox. The platform reportedly originated over USD 24 billion in loans per annum, around 10x the value of loans it originated in 2015.
 
 
 
 
 Cross River Bank has expanded its operations by acquiring Betterfin, a platform offering lending-as-a-service (LaaS) solutions, in November 2021. Through the acquisition, Cross River Bank leveraged Betterfin’s software to digitize parts of the small-business lending process (such as origination and underwriting). 
 
 
 
 The company partnered with 
 <a href="https://sp-edge.com/companies/1643">
 American Express
 </a>
 (Amex) to enable FinTechs to issue credit cards through Cross River Bank, on the Amex network, while also providing select Amex benefits to the FinTechs. 
 
 
 Funding and financials
 
 
 
 
 The company 
 <a href="https://sp-edge.com/updates/9458">
 raised USD 620 million in funding
 </a>
 co-led by Eldridge and a16z, at a valuation of over USD 3 billion, to invest in product developments, recruitment, international expansion, and boosting strategic partnerships.
 
 
 
</div>

Cross River Bank

<div>
 
 Synctera was co-founded in 2020 by Peter Hazlehurst, the former head of Uber Money, who previously led the development of Google Wallet. The company offers an API-based infrastructure platform for community and regional banks to find and partner with FinTechs. This enables FinTechs to leverage the former&rsquo;s licenses to embed FDIC-insured mobile checking, debit cards, savings accounts, and payment innovations, among other features. The API platform offered to the banks will then be sold to the FinTechs to code on. Although the end customers interact with the FinTechs, they legally belong to the bank.&nbsp;
 
 
 <a href="https://sp-edge.com/updates/8117">
 Synctera mainly charges the banks
 </a>
 based on the interchange fees they earn (half of the interchange fees, as of January 2022) from the services provided. It does not charge them an initial amount to use the platform. Moreover, the platform also embeds fraud-as-a-service and charges FinTechs on a per transaction basis (4 cents per transaction) should they choose to use it. It subsequently shares that revenue 50/50 with the banks.&nbsp;&nbsp;&nbsp;
 
 
 
 
 The company launched the &ldquo;t-minus10&rdquo; project in January 2022, which offers a live sandbox for FinTechs to build apps, test, and go to market, enhancing their access to banking partners. It subsequently launched a &ldquo;Smart Charge Card&rdquo; (APIs to build, launch, and issue charge cards) and &ldquo;White-label Banking App&rdquo; (a codebase for developers to build embedded banking products or neobank apps) infrastructure in October 2022.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 In February 2022, Lineage Bank (a community bank in Tennessee) and GoGetr (FinTech aiming to promote health and wealth management) became the first companies to launch a banking solution using the Synctera platform. As of March 2023, the platform was working with around 50 fintechs, of which 14 were live (including Wayapay and Float). Synctera reportedly had over 20 implementations set for launch in the following two months.&nbsp;&nbsp;
 
 
 
 
 Synctera announced a new card issuing and management infrastructure offering (Card-as-a-Service), in July 2021, which it developed in partnership with Mastercard and leading card issuing infrastructure disruptor, 
 <a href="https://sp-edge.com/companies/64287">
 Marqeta
 </a>
 .&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 
 The company 
 <a href="https://sp-edge.com/updates/16980?industryIds=53">
 raised USD 15 million
 </a>
 in funding led by NAventures in March 2023, to invest in expanding the platform&rsquo;s use cases and broadening its geographic footprint beyond the US (including expanding to Canada). Meanwhile, Synctera has also partnered with the National Bank of Canada to enable companies to launch FinTech apps and embedded banking products in Canada. 
 
</div>

Synctera

<div>
 
 Based in the UK, Weavr, formerly known as Open Payments Cloud, was spun out of payment provider Ixaris in 2019. Weavr offers the infrastructure for enterprises to embed banking services across various industries, including education, fitness, logistics, etc. Weavr&rsquo;s &ldquo;Meta&rdquo; platform combines multiple banking and payments partners in one platform through application programming interfaces (APIs). Using the APIs, enterprises can embed virtual banking services such as card payments, fund transfers, and international banking accounts.&nbsp;
 
 
 
 Weavr expanded its operations to Singapore in November 2022, as part of its global expansion plans.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As of July 2021, Weavr&rsquo;s customers included Finway, Thanks Ben, and MySkillCamp, among others.&nbsp;
 
 
 
 
 In October 2019, Weavr partnered with payment service providers Global Processing Services (GPS), Paynetics, and iDenfy to enable developers to create and run sophisticated and streamlined payment experiences for their European customers through Weavr.&nbsp;
 
 
 
 
 Funding and financials
 
 
 
 Weavr 
 <a href="https://sp-edge.com/updates/8647?industryIds=53">
 raised USD 40 million
 </a>
 in Series A funding in February 2022, led by Tiger Global, less than a year after 
 <a href="https://sp-edge.com/updates/4166">
 raising GBP 4 million (USD 5.5 million)
 </a>
 in seed funding in July. The funds were earmarked for business development and recruitment to support Weavr&rsquo;s expansion to the US market, while also supporting its continued expansion in the UK and Europe. 
 
</div>

Weavr

<div>
 
 MX offers an open finance portal, data connectivity application programming interface (API), and MX platform API for banks, credit unions, and other financial service providers. The company’s solutions allow its clients to utilize financial data to reduce fraud, approve loans faster, and improve their customer experiences. In addition to APIs and connections, MX also offers a range of capabilities, including data aggregation, analytics, financial feed insights, wealth and investment services, and verification services. 
 
 
 
 
 MX looks to enable banks and financial institutions to launch next-generation services and apps that automate and personalize financial experiences. As of January 2021, the company noted that it worked with more than 2,000 banks, credit unions, and FinTech companies, and its platform reached over 200 million end-users. Moreover, it also powered 43 of the top 50 digital banks as of the same period. 
 
 
 
 
 In 
 <a href="https://sp-edge.com/updates/8753?industryIds=53">
 February 2022, MX partnered
 </a>
 with 
 <a href="https://sp-edge.com/companies/361160">
 Rize
 </a>
 , to enable users to access Rize’s banking infrastructure to build, launch, and scale financial products through a single API, thereby reducing the development time and cost.
 
 
 
 
 In January 2021, MX raised USD 300 million in a Series C funding round led by TPG Capital, at a valuation of USD 1.9 billion. The newly raised funds are to be invested in improving MX’s capabilities, expanding its global presence, and increasing its workforce. In January 2021, MX noted that its headcount tripled over the past two years, reaching 550 staff members. 
 
 
 
 
 The company appointed Shane Evans as interim chief executive officer (CEO) in January 2022, to prepare the company for an IPO or sale (at a valuation of over USD 5 billion) and oversee its growth. 
 
</div>

<div>
 
 Synapse offers a banking-as-a-service (BaaS) infrastructure primarily for banking and financial service providers. The infrastructure applies machine learning and automates repetitive back office tasks, covering a breadth of products, including deposit, lending, investment products, and payments platforms, among others. Its white-label infrastructure is available through application programming interfaces (APIs), allowing developers to launch customer-facing FinTech services.  
 
 
 
 
 In June 2019, the company claimed that its integrations allow developers and apps to reduce the incremental cost of operating financial products to zero, from around USD 130-USD 150. Moreover, its annual recurring revenue was estimated at around USD 20 million-USD 30 million in April 2020, and the company reportedly doubled its revenue in 2020 and saw a 150% revenue growth year-to-date July 2021. Notably, as of January 2021, Synapse had more than 7.8 million users and processed over USD 39 billion in transactions. 
 
 
 
 Synapse looks to broaden its global footprint by gradually entering Europe, Asia, Latin America, and Africa. As of June 2019, its operations were limited to the US; however, the company intended to begin its foreign expansion to Canada and Europe by initially launching payment, deposit, and debit card issuances, expanding to lending and investment products thereafter.
 
 
 
 
 In June 2020, the company laid off nearly half of its workforce across 11 departments owing to the Covid-19 pandemic. This was largely due to the pandemic having a negative impact on its customers, who primarily comprised early-stage startups. 
 
 
 
 The company expanded its platform by launching the “Credit Hub” offering in August 2021, for financial institutions to help individuals build and access credit, and offer cards, credit building tools, lending accounts, and cashback rewards. Synapse claims its platform enables users to build FinTech solutions in six weeks, compared to the 18 months taken by typical alternatives. The Credit Hub was in private beta until August 2021, and in private beta it had issued around 1 million credit accounts and extended over USD 40 million in credit. Moreover, the company also 
 <a href="https://sp-edge.com/updates/7574">
 partnered with TrueAccord
 </a>
 in January 2022 to offer debt collection service infrastructure for its clients.   
 
</div>

Synapse

Used for payment completions, accessing banking and transaction data, and providing financial insights, among others

May specialize in promoting inclusiveness in financial services, primarily in the investment and lending spaces

AI/ML can improve the quality of their offerings, such as using AI/ML to reduce biases

Platforms that allow FinTechs to integrate banking services such as opening and maintaining accounts, facilitating card payments, etc.


Marqeta

EDGE Insights

Anthony Peculic, Head of Cards at Cross River Bank, on building a fintech one-stop shop

Recent Updates

Marqeta Q2 earnings beat analyst consensus estimates

Marqeta partners with Fitbank to expand to Brazil

Marqeta Q1 earnings miss analyst consensus despite revenue-beating estimates

Marqueta partners with WorkWhile to launch card solution for hourly workers

Marqeta Q4 revenue in line with analyst estimates, while EPS beats estimates

Marqeta acquires Power Finance, Inc. for USD 275 million

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