Wise, a U.S.-based fintech, announced this week it secured $5.7 million through its latest seed funding round, which was led by Base10 Partners’ Principal, Rexhi Dollaku, with participation from Abstract Ventures, Backend Capital, The Fund, Two Culture Capital, and notable angels such as Michael Vaughan, Jonathan Weiner, Lawrence Chu, and Inaki Berenguer. The investment round comes just after the launch of Wise’s FDIC-insured business checking account in partnership with BBVA.
“Wise is embedding banking for the modern business. Our mission is to be alongside ambitious businesses, every step of the way. Wise envisions a world where modern businesses can bank, pay, and get paid — effortlessly!”
While sharing more details about the company, Arjun Thyagarajan, Co-Founder and CEO of Wise, stated businesses that are banking with Wise are able to get access to their cash faster in a modern banking experience that’s designed for them. The funding will be used to continue the development of the Wise platform.
“We will be launching more of these platform developer tools so that digital platforms can, for the first time, create a modern, delightful banking experience for their customers too.”
Dollaku then concluded:
“We believe Wise’s banking experience has the potential to create a category-defining company, and we are thrilled to enable our online platform partners to provide a better banking experience and ultimately serve their customers better.”