Banked, a London, UK-based payments startup, launched out of beta after securing another £2.35m in seed funding.
The round, which brought total funding raised to date to £5.35m, was led by Force Over Mass, with participation from Backed, Acrew Capital (San Francisco based) and high net worth partners including the family office of serial investor and co-founder of indeed.com, Paul Forster.
The funding will be used to build more commercial relationships and support its rollout across Europe.
Founded in 2018, and led by Brad Goodall, CEO, Banked provides an account-to-account payment software platform that lets consumers, businesses and banks process payments in real-time, more securely. To leverage the Banked checkout system, businesses need to embed the company’s API and this can be done across mobile apps, customer portals, emailed invoices or even text messages. Individuals can also use the free app to create payment links, and start requesting money from anyone, for anything, without sharing any personal banking details. The company charges 0.1% to process payments. Its software also protects consumers and businesses by transferring money without sharing customer bank details. Banked is regulated in both the UK and the EU.