5 years ago

Banked Secures £2.35 Million to Revolutionize Payments

  • Banked, a London-based payments startup, has secured £2.35 million in seed funding, bringing its total funding to £5.35 million

  • The investment was led by Force Over Mass, with participation from Backed, Acrew Capital, and high-net-worth investors

  • Banked's account-to-account payment software enables real-time, secure, and cost-effective transactions for consumers, businesses, and banks

  • The company charges a fraction of the traditional fees and aims to challenge the dominance of established players in the payments sector

  • The funding will be used to build more commercial relationships and support Banked's expansion across Europe.

      • ProblemFinancial Services

      "The current payments systems used by credit card companies and most traditional banks were designed 40 years ago and have become archaic, not to mention costly and inefficient for businesses to use."

      Solution

      "Banked offers a real-time account-to-account payment software that lets consumers, businesses and banks process payments in real-time, more securely, and for one-tenth of the traditional cost."

      Covered on