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Brim Financial raises $85m for US expansion

Brim Financial raises $85m for US expansion

Toronto-based payment technology firm Brim Financial is targeting the US after raising $85 million in a Series C funding round led by EDC Investments.

Vistara Growth, White Owl Group, Epic Ventures, and Zions Bank joined the round.

Brim's Credit-Card-as-a-Service platform has been rolled out by banks, credit unions and brands, including Laurentian Bank, Affinity Credit Union, CWB, and Air France-KLM.

In the last year, the startup has formed an open banking partnership with Mastercard and seen revenue increase by more than 10 times.

The new funding will be used for US expansion, including extending its market reach, accelerating product development and forging strategic alliances.

Rasha Katabi, CEO, Brim, says: “We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities.

"Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”

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