Brim Financial Lands US$85m Series C Funding to Fuel Growth
Fintech infrastructure company Brim Financial has secured US$85m in Series C Funding, with EDC Investments leading the round.
Additional investors include Vistara Growth, and existing investors White Owl Group, Epic Ventures and Zions Bank have returned to contribute to Brim Financial’s Series C.
Brim attributes the success of its latest funding round to robust revenue growth and growing momentum across its customer portfolio – expanding into the business and commercial segments.
Brim: Investment to fuel expansion
Brim will utlilise its latest funding to fuel its US expansion strategy, as it bids to extend its market reach, accelerate product development and forge new strategic alliances.
Rasha Katabi, CEO and Founder of Brim, says: “This funding will accelerate Brim’s growth and fuel our international expansion.
“We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”
- Formed a strategic partnership with TrueNorth to deliver Credit Cards-as-a-Service platform to financial institutions and fintech customers in North America
- Successfully rolled out credit-card-as-a-service (PaaS) to banks, credit unions and major international brands, including Laurentian Bank, Affinity Credit Union, CWB and Air France-KLM
- Expanded strong momentum in the US market with middle-market US banks
Exploring Brim
Brim’s high growth and expanded success are clear for all to see, but just what is Brim, and why have its services helped it achieve such marked growth?
Founded in 2015, Brim – a Toronto-based fintech – has leveraged its credit-card-as-a-service platform to deliver embedded finance to large-scale banks, fintechs and merchants in a B2B model.
Its modular and scalable product suite supports its clients in running and evolving their product platforms to meet customers' evolving needs.
Leveraging Brim’s technologies, its clients can see a significant decrease in time to market, while reducing the costs and challenges associated with developing and maintaining advanced capabilities independently.
Brim recently entered into a transformational partnership with Mastercard, including integration of its open banking capabilities to modernise credit card infrastructure in the US.
Giving testament to Brim’s substantial growth since its inception just nine years ago, Senior Vice-President, Mid-Market Group, of lead investor EDC Investments, Guillermo Freire, notes: “Brim has all the elements for success - an innovative product, rapid growth and a visionary management team.
“With EDC’s investment, Brim will continue to be positioned as a market leader and drive its growth into new markets, bringing proven solutions to financial institutions and enterprises.”
Brim's rewards schemes through partnerships have also been recognised for their innovation in credit card development.
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