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Payments-as-a-service platform Brim raises $25 million

Payments-as-a-service platform Brim raises $25 million

Toronto-based payment technology firm Brim Financial has closed a $25M Series B, co-led by Desjardins Group and US-based Epic Ventures.

Initially targeting the direct-to-consumer market, Brim has progressively built an all-in one technology stack encompassing credit card issuing, loayalty and rewards, and buy now, pay later services that is available for installation by credit unions and businesses.

“Our technology stack powers banking, loyalty and integrated e-commerce on a single platform, with the customer experience at the center of it all” says Ceo and founder, Rasha Katabi. “Today’s digital environment has brought a new sense of urgency for institutions to assess how they will interact with their customers. We are well positioned to be at the forefront of this transformation.”

She says the firm has on-boarded hundreds of merchants to its rewards ecosystem since its launch, and rapid expansion of the network will continue to be a key focus for the company. Using a single piece of code, any merchant can be live and part of the rewards package in less than three minutes.

“Brim’s platform delivers industry-leading payments technology to their customers at an astonishing pace,” says Martin Brunelle, VP, growth, acquisitions and development at Desjardins Group. “Desjardins has earmarked $100 million to invest in technology companies and investment funds who can support our different business units in their digital transformation needs. We’re very excited to be partnering with Brim.”

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