Investment

Uruguayan fintech Bankingly raises US$5.25M from Elevar Equity

LatAm ListBankingly helps financial institutions provide digital channels to their customers to streamline their experience. The fintech recently announced via LAVCA that they closed a US$5.25M round led by Elevar Equity with participation from The Rise Fund and Endeavor Catalyst.

Bankingly uses its software to help improve financial inclusion by providing simple digital channels for banking institutions that serve underbanked or lower-income customers. They focus on small and medium sized banks, as well as micro-finance organizations so they can target a customer base that is often overlooked by traditional financial services.

“Banking customers, irrespective of where they live or their income levels, should have access to world-class digital banking solutions that reduce their transactions costs, improve transparency and have increased access to new products and services, ultimately improving their lives,” said Johanna Posada, Co-Founder at Elevar Equity in the press release on LAVCA.

Bankingly will use the investment to continue to improve their services and to scale to Europe and Africa.

Read more on LAVCA.

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