Banking software fintech secures $50m investment to enter North American market
A London-based global fintech specialising in software for business banking has closed a multi-million dollar funding round.
Pollinate has secured $50m investment in a Series C funding round led by global venture capital firm Insight Partners.
The round also included participation from all existing investors, including NatWest Group, Mastercard, National Australia Bank (NAB), EFM Asset Management, and Motive Partners.
The investment is expected to support Pollinate’s continued global expansion and move into North America, where it is already in discussions with a number of banks.
In addition, the funding will be used to accelerate the expansion of Pollinate’s white-label marketplace offering.
Al Lukies CBE, CEO and founder of Pollinate, commented: “SMEs are the lifeblood of economies globally. They are the job creators, the innovators, and the brave explorers that simply find a way to make things work.
Access to capital, intuitive banking services and a broad ecosystem of value-added solutions and partners are critical to the journey of a small business owner. It is our passion to work with leading banks and dynamic merchants around the world.
“This investment round, led by the outstanding team at Insight Partners and supported by our existing shareholders, validates our mission, and is a statement of confidence in the banks – that they can fight back against new entrants and win, all while supporting the vital work of SMEs.”
Emmet B. Keeffe III, operating partner at Insight Partners and founder of Insight IGNITE, added: “At Insight Partners, we invest in fast-scaling software companies. The Pollinate platform creates white-labelled digital marketplaces for the business customers of the world’s largest banks.
“Following the pandemic, the banks have the opportunity to lead the regeneration of the SME economy but they must move quickly.
“We’re proud to support Pollinate as they develop their global alliance of non-competing banks, and look forward to seeing the company continue its impressive growth in the years ahead.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.