Rewire, a Tel Aviv, Israel-based international borderless banking platform for migrants, raised $12m in Series A funding.
The round was led by Viola Fintech with participation from Opera Tech Ventures, Moneta, OurCrowd, Leon Vaidman, Yaron Lemelbaum, Yair Tauman, and Standard Bank of South Africa. In conjunction with the funding, Dani Tzidon, Viola Fintech Fund co-founder, joined Rewire’s board.
The company intends to use the funds to continue to expand operations and its reach into Europe.
Founded in 2015 by CEO Guy Kashtan, VP R&D Adi Ben Dayan, and CTO Saar Yahalom, Rewire provides a cross-border account for Internationals, used by Filipinos, Nigerians and Indians, among others, living in Europe.
The solution provides users with:
– A free Euro account to keep money safe and manage financial activity;
– An app to manage the account, send money, view balance and control expenses;
– A personal IBAN number for sending and receiving money, using a money transfer platform; and
– A free prepaid Mastercard to shop around the world, pay bills and withdraw money from any ATM.