Anthemis, QED Investors and Seedcamp have invested $4 million in embedded finance startup Weavr.
Weavr offers a set of APIs that make it simple for service sector companies to integrate with banking products and generate accounts, issue cards, or transfer funds.
Yann Ranchere of Anthemis says: ‘“As financial services continue to become embedded in all online and offline experiences, providing a scalable platform to let any company add banking to their services via APIs is a massive opportunity. The Weavr team is building this infrastructure and we can’t be more excited to support them by leading their Seed round.”
Companies face a formidable barrier of complexity and burden of compliance when looking to integrate financial services into their offerings. Weavr’s embedded banking tools are specifically designed to build, integrate and run embedded banking services without specialist knowledge in financial services.
Alex Mifsud, co-founder and CEO of Weavr comments: “The need for simple and accessible embedded banking products could not be more urgent. As the world starts to look beyond the Covi19 crisis and the possibilities stemming from lasting changes in consumer and business behaviour, embedded banking offers extraordinary potential for the future of work, the move away from cash, and the integration of financial services into all manner of digital businesses.”
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