Banked bags $20m in Series A round led by Bank of America
Banked, a startup that enables consumers to pay from their mobile banking apps, has completed a $20 million Series A funding round.
This was led by Bank of America and Edenred Capital Partners. Existing investors Acrew, Force Over Mass, Firestartr, OM2, Love Ventures Kuvi Capital and Paul Forster (founder of Indeed.com) also participated.
New investors included Sidekick Partners, 9Yards and Huey Lin (ex-PayPal). The round brings the total investment raised to date to over $30 million.
“Banked has built a product that can operate inside tier 1 banks, payment providers, gateways and technology platforms to allow them to offer Pay by Bank to their merchants,” says CEO Brad Goodall (pictured above).
“We have had a maniacal focus on infrastructure, security, and end consumer experience. Our clients only need to focus on integration.”
“We really want to work inside the existing ecosystem and are building out very strong partnerships to deliver Pay by Bank globally. 2022 will see some really big brands go live with Pay by Bank, driving at the heart of delivering innovation at point of purchase to both the merchant and consumer.”
Faiz Ahma, a Managing Director and Head of Global Transaction Services at Bank of America, says: “We are pleased to be a lead investor for Banked and they have already demonstrated a proven ability to develop unique e-commerce solutions with Pay by Bank.”
“We look forward to seeing the benefits that this investment round will bring to Banked’s fast growing client base.”
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