BankiFi, a Manchester UK-based fintech company, raised £2.2M in funding.
The round included:
- £1.5m investment by Manchester-based Praetura Ventures, and
- £700k from the Greater Manchester Combined Authority (GMCA).
The company intends to use the funds to expand its product and service offering, grow its client base and target new domestic and overseas markets.
Founded by Mark Hartley (CEO), BankiFi provides a technology platform that enables banks to provide a set of integrated services, including invoicing, payments, cash management and accounting, which are designed to help businesses reduce time spent on financial administration.
Hartley is an innovator in payments and open banking. He previously scaled payments technology provider Clear2Pay, which was sold to FIS for circa €375m in 2014. BankiFi’s CFO is Chris Fry, who was previously a partner at KPMG.