Banking and payment software startup Moov nets $5.5m in its seed round

Moov, a designer of banking and payment software, has secured $5.5m for its seed round as it looks to increase its user base and product roadmap.

The investment was led by Bain Capital, with commitments also coming from Uncorrelated, Gradient Ventures, Commerce Ventures, Canapi, RRE Ventures, Abstract Ventures and Veridian Credit Union.

Support also came from 27 angel investors, including HMBradley co-founder Zach Bruhnke, Index Ventures partner Mark Goldberg and Anthos Capital president Emily White.

Based in Iowa, the company offers an open-source platform for embedding banking services within any platform. Its API-based services include easy onboarding, enabling customers to verify users identities.

Moov clients can also send, receive and store money on behalf of their customers, through a single API.

Bain Capital has been an active investor in the FinTech space. The firm recently joined the $8m Series A1 round of insurance chatbot Hi Marley and the $75m round of cloud application security solution BetterCloud.

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