Plastyc, a New York-based provider of an Internet and mobile money management platform for underbanked people, has received a strategic investment from Core Innovation Capital.
The company intends to use the proceeds from the financing, whose amount remained undisclosed, to build out additional services for its own customers, as well as delivering its platform to other financial institutions.
In conjunction with the funding, Mike Harris, a partner at Core Innovation Capital, will join the company’s board of directors.
Co-founded by CEO Patrice Peyret, Carles Guillot and Justin Surman, Plastyc delivers iBankUP money management service and UPside line of prepaid VISA cards, which are designed to address the demand by the underbanked for responsible financial services. The company provides its services to consumers of all ages, including teenagers, provided that an adult is involved in their enrollment to the products.