Bond Financial, a U.S. fintech platform, announced on Wednesday it secured $32 million through its Series A funding round, which was led by Coatue with participation from existing seed investor Canaan and new strategic investors Goldman Sachs and Mastercard.
Founded in 2019, Bond states its on a mission is to accelerate the pace of financial innovation and inclusion. The company’s platform notably streamlines the integration between brands and banks, dramatically reducing friction and creating a more repeatable model.
“Through its AI-powered infrastructure, Bond enables digital brands to better engage their customers by offering personalized and compliant banking products.”
Bond also claims that its platform reduces friction by centralizing and streamlining key processes of bank-brand partnerships. Roy Ng, Co-Founder and CEO of Bond, spoke about the company by stating:
“The ongoing global pandemic and renewed focus on societal inequalities make Bond’s mission of driving financial innovation and inclusion more important now than ever before. Opportunity starts with access. We look to lead the industry in enabling banks and innovators across industries to level the playing field for consumers and small businesses.”
Sherri Haymond, Executive Vice President of Digital Partnerships at Mastercard, added:
“Bond provides an entirely new approach to help its fintech and bank partners deliver for the end user. We look forward to working with the team as they move to this next stage.”
Bond is planning to use the funds its hiring and product launch with its first brand and bank partners.