Uruguay-based fintech Bankingly raises $11 million in funding

Oluwajuwonlo Afolabi -

Bankingly, a fintech firm based in Uruguay has raised $11 million in its new funding round led by Dalus Capital.

  • The funds will help the software-as-a-service (SaaS) company expand into 25 new markets, widen its presence in Latin America and make entry into Asian markets while also increasing development in Africa.
  • The startup plans to expand its product offering and attract more partners and users to its SaaS platform with over 3.5 million existing users.
  • Bankingly partners with cooperatives, microfinance institutions and small and medium sizes banks in emerging markets to promote their digital channels and facilitate financial inclusion.
  • IDB Lab, IDC Ventures, Athos Group, Kube Ventures, Grupo Finacess, iThink VC, Sonen Capital and Oikocredit participated in the funding round.