Congratulations to Arjun Thyagarajan and the Wise team on their $12M Series A round led by e.ventures, alongside Grishin Robotics, Base10, and Techstars. As one of the first investors into Wise Banking alongside The Fund and Techstars, what we loved about Arjun’s vision was that there are many small businesses who touch financial services but don’t have the desire or capacity to make such a large investment in offering those services to their customers on their own. Instead, Wise allows these SMBs to extend bank accounts and other financial services to their clients using Wise.
The same way Amazon might extent a line of credit cards to loyal merchants, but use JP Morgan to manage those cards, Wise allows any platform to extend financial services such as bank accounts, co-branded cards, or invoicing to their customers. As they say, “we built a bank so you don’t have to.” The world doesn’t need any more.
Read more about the Wise Series A in TechCrunch.