Canadian fintech firm Brim Financial has secured $85 million in a Series C funding round led by EDC Investments.
The round also saw participation from Vistara Growth alongside existing investors White Owl Group, Epic Ventures and Zions Bank.
Founded in 2017 and headquartered in Toronto, Brim Financial offers a range of financial services to businesses. Along with a full suite of consumer and business credit cards with buy now, pay later (BNPL) capabilities, Brim also operates a digital platform that enables banks, fintechs, credit unions and large companies to launch their own white label or co-branded platform “in weeks”.
The company last raised $25 million in a Series B funding round in March 2021. Since then, it has entered into partnerships with Mastercard and TrueNorth, onboarded more banks and businesses including Laurentian Bank, Affinity Credit Union, CWB, and Air France-KLM, and continued its expansion into the US.
With the latest funding, Brim plans to fuel its US expansion strategy, including extending its market reach, accelerating product development and forging strategic alliances. It also plans to ramp up hiring across the board.
“This funding will accelerate Brim’s growth and fuel our international expansion,” said Rasha Katabi, CEO and founder of Brim.
“We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”
