Fast-rising Fintech Bankingly Closes Successful Investment Round for $11 Million USD
Bankingly accelerates its growth with the culmination of a successful investment round for a total of $11 million USD. The round was led by Dalus Capital, and accompanied by IDB Lab, IDC Ventures, Athos Group, Kube Ventures, Grupo Finacess, iThink VC, Sonen Capital and Oikocredit. The new investors join existing ones that include, among others, Elevar Equity and Endeavor Catalyst.
Bankingly positions itself as a strategic partner of financial institutions for their digital transformation, focusing on the development of customer-facing applications and digital channels. The company specifically looks to partner with cooperatives, microfinance institutions and small and medium banks from emerging markets, which have gained momentum in terms of financial inclusion from the technological wave of the post-pandemic world.
Today, Bankingly has nearly 100 subscribed financial institutions in Latin America and Africa to its SaaS platform. This new round of investment will allow the company to expand into 25 new markets, deepen its presence in Latin America, boost development in Africa and facilitate entry into high- potential Asian markets.
A second pillar of its strategy for this year will be the expansion of its own offer and the start-up of a marketplace for commercial partner products that enhance the value of the existing SaaS platform that currently has more than 3.5 million users under contract, a number which is also growing rapidly.
Martín Naor, CEO and Founder of Bankingly, stated: “We created Bankingly with the vision of offering reliable and robust digital transformation tools at an affordable cost and a variable payment model that matches the institutional investment. In a few weeks, the digital channel will be fully operational, which will spur a revolutionary development in terms of what used to be a costly, long, and tedious process. Our focus has always been the enhancement of personalized relationships with our clients and in this sense, we have managed to successfully replicate the experience offered by the physical world, adding the benefits of a digital channel.
This new round of investment allows us to access a virtuous circle of growth opportunities in the world of payment methods, remittances, and emerging business models for financial institutions. Without a doubt, we are changing the industry and bringing premium digital services to a historically underserved customer segment. I am proud of the team; they have done an incredible job so far and I am excited about the clear path forward to the exceptional position we will undoubtedly build throughout 2022.”
Mushimpa Mushingo, Business Development Manager for Zambia stated, “Technology is quickly becoming the core of financial services globally and paving the way for smart and simple banking solutions. It has transformed the finance industry, and Bankingly is at the forefront of this change. Through our mobile and web platforms, we are enabling financial health and inclusion in Africa. Today we have great innovative products included in our services such as: Digital Onboarding of clients, products and cards, Digital Origination of Loans, a Fraud Monitoring solution that fortifies potential gateways into the digital world and a multi-channel transactional Chatbot that includes WhatsApp. This new round of investment marks an important milestone for the company, boosts the possibilities we have for expansion and materializes the growth we project for Zambia and all the African regions.”
Diego Serebrisky, Founding Managing Partner of Dalus Capital, stated: “At Dalus Capital we are tremendously excited about the opportunities that are ahead for Bankingly, which today is the leading global SaaS technology company focused on the digital transformation of financial institutions in emerging countries for customers. We are proud to support Bankingly in its growth and expansion as it is contributing to the financial inclusion of millions of people, first in Latin America and Africa and soon in Southeast Asia.”
About Bankingly
Founded in 2015, Bankingly is a fintech company with the vision of transforming the way in which financial institutions in emerging markets promote their digital channel and, therefore, facilitate the financial inclusion of millions of people around the world. The provision of technologies hosted in the cloud, with a SaaS business model, based on the number of active users that each institution achieves, allows Bankingly clients to adjust their costs to the benefits achieved. Through a brief, optimized implementation process with high functionality and cybersecurity standards, the Bankingly platform offers a mobile application, a transactional website, a chatbot and multiple other products. Today, more than 1,500,000 people from nearly 100 entities trust Bankingly’s technology.
