Wise, a digital banking platform, has closed its Series A on $12m, coming just six months after it closed its $5.7m seed round.
The investment was led by e.ventures, with contributions also coming from Grishin Robotics, and previous backers Base10 Partners and Techstars.
With the capital in the pocket, Wise hopes to accelerate its growth and partnerships across several verticals and deepen its technology’s capabilities.
Founded in 2018, Wise offers businesses a platform to bank, pay and get paid.
e.ventures partner Brendan Wales said, “Business banking has been broken for far too long. Poor user interfaces, payments delays, unnecessary fees, a lack of integrations, the list goes on and on.
“The team at Wise is bringing an Apple-like experience to the world of business banking with an embedded product that brings banking to where one’s business is managed.”
Alongside the close of the investment, Wise has formed a number of new partnerships with B2B companies.
Wise partner Sahin Boydas said, “In a world where more people are working remotely than ever before, it is important for RemoteTeam to provide its customers with a modern, instant payroll experience. Embedding banking solves a major pain point that makes RemoteTeam a standout offering in the payroll industry.”
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