Canada’s Brim Financial lands $85m in Series C funding round
Canadian ‘Credit-Card-as-a-Service’ fintech Brim Financial has bagged $85 million in a Series C funding round led by EDC Investments.
Brim Financial bags $85m Series C funding
The round also featured participation from Vistara Growth alongside returning investors Epic Ventures, Zions Bank, and White Owl Group.
Founded in 2015, Toronto-based Brim Financial provides embedded banking and finance solutions, personal and business credit cards, payment solutions and customer engagement and analytics tools.
The company plans to use the new cash injection to fuel its US expansion plans and extend its market reach. The firm says the funds will also help it to forge new “strategic alliances” and hire more staff.
Rasha Katabi, CEO and founder of Brim, adds that the funding will enable the fintech to execute its “robust product roadmap, focus on platform automation, and integrate open banking capabilities”.
The fintech states that since its Series B round in 2021, which saw the company raise $25 million, it has successfully introduced its Credit-Card-as-a-Service offering to numerous banks, credit unions, and multinational corporations. The firm has notably signed partnerships with Canadian Western Bank (CWB), banking tech vendor Mambu, and Canada’s Laurentian Bank, among others.
Brim joins a growing list of global fintech companies announcing Series C funding rounds this year. Significant examples include Colombian paytech Bold, which raised $50 million, and US investment management firm FundGuard, which secured $100 million in funding.
