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Australian embedded financial platform provider Shaype has secured an A$33 million ($21.4 million) stake in its Series C funding round.
Shaype Raises $21.4 Million
The round was led by the Regal Funds Magagement, with participation from a number of family offices.
Shaype said the funding will be used to expand the team and its Australian customer base, as well as international expansion.
By the end of the year, we plan to launch a suite of embedded financial solutions for the financial services, human resources, real estate and government sectors.
The Sydney-based start-up was founded in 2020. We currently have a global team of around 100 people and offices in the UK and Poland.
We started with a vision to create faster, better, more embedded financial and payment systems, Fintech says.
Shaype argues that this vision is being realized in an “extraordinary way.” As a Visa Principal Partner, the company is able to sponsor Visa clients’ businesses, issue cards and provide complete processing and program management through a “universal API adapter” and “pure microservices architecture”. It also provides access to Australia’s payment rails, the New Payments Platform (NPP) and the Bulk Electronic Clearing System (BECS, also known as the Direct Entry (DE) system).
It also supports account and onboarding/know your customer (KYC), digital wallet/tokenization, real-time fraud monitoring, data and reconciliation.
