Integrated Finance raises £2 million to transform tech development for all
Fintech infrastructure platform Integrated Finance today announces that it has raised £2 million in Seed funding. The round was led by Octopus Ventures, one of Europe’s most active early-stage VCs, with participation from 500 Start-Ups, SuperSeed Ventures, and prominent Angels Chris Adelsbach, Srin Madipalli, and John Erdimansinga.
The investment will be used to significantly increase the company’s product and engineering teams to further develop its platform, alongside building its commercial team to support the growth of new and existing customers.
The Integrated Finance platform gives fintech companies and financial institutions of all sizes access to the same financial infrastructure used by the world’s largest companies. The infrastructure APIs that Integrate Finance provides help developers at fintech startups and big banks alike build embedded financial services at greatly reduced speeds, enabling them to drive far more value from their existing technology, and their customer base.
Alistair Cotton, CEO & co-founder of Integrated Finance comments: “As software rapidly changes how financial services are delivered, businesses are now confronted with an ever-expanding digital financial supply chain they can use to adapt to changing customer requirements. The Integrated Finance platform allows fintechs to speed up innovation, by simplifying connections to all of their banks and suppliers to a single API.”
Integrated Finance’s infrastructure platform can help scale-ups build a new solution in a month, rather than a year, while the drastic reduction in build time means established organisations can test and prove existing models in new jurisdictions or geographies within months. In addition, Integrated Finance’s platform can help fintechs recognise and analyse opportunities for growth. By building a better tech infrastructure, companies can collect smarter data, and discover the customers they’re not winning or retaining.
Cotton adds: “Integrated Finance has grown rapidly since our last funding round 12 months ago. Our customer base has increased five-fold, and our platform allows our customers to create and launch new products three times faster, keeping them ahead of their competitors.
Zihao Xu, Principal at Octopus Ventures, comments: “Companies work best when they focus on what makes them special, and those that leverage Integrated Finance will have a huge advantage when it comes to focusing on their core innovations. We’re hugely excited to back Integrated Finance on this journey. They’ve already proven they can help customers dramatically bring forward new product launches and we can’t wait to see them bring this to the wider ecosystem and help accelerate the world towards a future of rich and delightful financial experiences for everyone.”
Integrated Finance recently announced a partnership with Currency Cloud, which enables companies to fast-track their integration.
Richard Stockley, Director of Partnerships at Currencycloud said: “Partnering with Integrated Finance has strengthened our ecosystem and expanded the offering for our customers. We are excited to be part of Integrated Finance’s platform providing customers easy integration to financial infrastructure and accelerating time to value. We at Currencycloud are thrilled to be part of this milestone for Integrated Finance and look forward to a bright future together.“
Integrated Finance was founded by four friends to solve a problem they felt would only get more difficult over time. Having built and scaled a UK fintech, they had experienced first-hand the pain of integrating and stitching together APIs from different banks, fintechs, and regtechs to create a compelling customer offering. By pre-building integrations and maintaining them over time, Integrated Finance was created to minimise the time spent by fintechs on connecting to their partners.
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