Open banking provider raises £2m in growth funding
Open banking solutions provider Tell.money has raised £2m in growth funding to accelerate the development of its platform.
The platform, which allows banks and fintechs to integrate PSD2 compliance and open banking API functionality into their systems, said the funding round was led by fintech investor Craig Dewar.
Tell.money said the growth funding will be used to quicken its development and extend its contracted client base.
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“Successfully closing our investment round is a key step in our expansion,” said David Monty, co-founder and chief executive of Tell.money.
“Since our launch just two years ago we have made great progress in establishing the Tell.money brand as an attractive offering for both established banks and fintech-based account providers.
“The technology that we have built is market leading, and the liquidity that we now have available to us gives us the opportunity to move forward with the next stage of our growth plans at an even greater pace, as we build out our team and look towards expanding into the EU regions and beyond.”
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“We see Tell.money as an incredibly strong investment opportunity,” said Dewar.
“The business is already growing rapidly, receives excellent endorsements from its early-stage clients, and looks set to grow into a major player in its field.”