Uruguayan fintech startup Bankingly has raised $5.25 million in its Series A funding round led by Elevar Equity. The Rise Fund and Endeavor Catalyst also took part in the round.
The startup seeks to further financial inclusion by providing digital channels – mobile, online and conversational banking – to financial institutions that focus on low-income and underserved customers.
“Enabling financial health and inclusion through great digital experiences is our mission and having Elevar Equity, The Rise Fund and Endeavor Catalyst on board not only provides us the capital but most importantly the insight, access and network that we need to execute on our mission around the world,” said Martin Naor, Founder and CEO of Bankingly.
The funding will be used to expand sales and build new product features to continue to scale the business.