Upward Secures $8M to Expand Banking-as-a-Service for Underserved
Photo by Luke Shaffer on Unsplash
Upward, a Seattle fintech startup, raised $8 million in seed+ funding, co-led by Dundee Venture Capital and Breakwater Ventures, for its banking-as-a-service infrastructure, bringing their total funding to $12 million. Upward is targeting the embedded finance sector and enables partners to quickly launch credit and payout products.
Key takeaways
- Seattle-based fintech startup Upward has secured $8 million in seed+ funding, bringing its total capital raised to $12 million, according to Forbes
- The investment, co-led by Dundee Venture Capital and Breakwater Ventures, will bolster Upward's banking-as-a-service infrastructure
- Upward is targeting the rapidly expanding embedded finance sector, which the Boston Consulting Group estimates to be a $185 billion market
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