Australian banking software vendor Constantinople bags $33m in Series A round
Aussie banking software developer Constantinople has completed a $33 million Series A round led by Prosus Ventures, the Dutch corporate venture capital arm of Prosus Group.
Constantinople bags $33m Series A investment
Founded in 2022, the Sydney-headquartered fintech offers regional retail and business banks a technology and operations platform which supports functions including card issuance and lending, mobile and web apps, transaction banking and payments.
In addition, the start-up says that by leveraging AI, it can provide software capable of improving a bank’s financial crime monitoring and fraud detection measures, customer onboarding procedures and lending operations, while enhancing automation across compliance and controls.
Announced via a post on LinkedIn, the newly-completed round, which adds to the $20 million previously raised via a seed funding round of May 2022, was joined by existing investors Airtree, Square Peg and Queensland-based Great Southern Bank – which is also Constanipole’s first client bank.
Created by former Westpac execs Macgregor Duncan and Dianne Challenor, Constantinople will be using the new funds to develop its product offerings and help finance its 60-strong full-time workforce. According to the Financial Review, the cash injection will also be utilised to expand the company’s footprint overseas – reportedly, the firm is looking to be operational in markets such as the UK, Germany, Indonesia, Singapore and the US by 2027.
Constantinople joins an expanding cohort of fintech companies that have successfully concluded a Series A funding round this year. This includes the Saudi digital lending vendor Tameed, Uzbekistani tech firm Uzum, and most recently, US wealthtech NewRetirement’s $20 million raise, announced just last week.
