Shaype, Australia’s only one-stop-shop embedded finance platform, has secured an additional A$33 million in new equity investment in the Series C capital raise.
Proceeds from the latest investment round will be used to accelerate growth, with particular focus on expanding the team to support a full pipeline of Australian clients, as well as international expansion.
Regal Funds Management led the round, which also included family offices.
Commenting on the raise, Philip King, Chief Investment Officer at Regal Funds Management said: “We see huge opportunities for Shaype in leading innovation, as well as disruption, in banking and finance. Shaype is at the forefront of a new breed of fintech that can enable financial services better and more cost efficiently than any incumbent thanks to the platform’s control, flexibility, and speed. Ultimately providing their clients the confidence they need in this competitive environment.”
While global equity markets and in particular the technology sector have undergone a material re-pricing in valuations this past 12 months, Shaype have successfully closed the Series C with a significant uplift in valuation. This uplift reflects the core infrastructure that Shaype has built and owns, the team’s consistent track record of execution and delivery, and the resulting full pipeline of new business.
About Shaype - Shaype is creating tomorrow’s financial experiences today.
Our core product is the creation of transaction accounts – including joint accounts – with BSB and account number linked to a VISA card. Our powerful and flexible platform offers one-API access to a full suite of powerful financial microservices for:
Card payments, bank transfers, wallets, tokenisation and dynamic authorisation
KYC, data and insights
Real-time AML, CTF and fraud monitoring across all payment channels
Shaype will launch solutions for a range of businesses across, Financial Services, HR, PropTech and Government before the end of this year.
Shaype will be one of the first to be live with both Payment Initiator and Payer services for PayTo in Q4 2022.
Shaype has 100 employees globally with offices in Sydney, London, Belfast, Glasgow and Warsaw.