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Solid banks $63M for easier deployment of embedded fintech products

Solid banks $63M for easier deployment of embedded fintech products Image
  • Posted on 31st Aug, 2022 15:03 PM
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By utilizing APIs and a few lines of code, Solid enables customers to embed fintech products and get them up-and-running quickly.

Solid, which rebranded from Wise in 2021, raised a $63 million Series B round of funding to continue providing its fintech-as-a-service offering for companies wanting to launch and scale their own fintech products.

The San Mateo-based company works with fintech and vertical SaaS companies and offers banking, payments, cards and cryptocurrency products via easy-to-integrate APIs.

We last profiled the company in 2020, before its name change, and after it had picked up both a $5.7 million seed and a $12 million Series A.

Arjun Thyagarajan, co-founder and CEO at Solid, told TechCrunch that the company spent the last 18 months working with early customers on product-market fit.

Traditional fintech infrastructure was not built for the modern company, he explained, and that results in companies needing dozens of point solutions and often spending millions in upfront and ongoing maintenance costs, all before launching an actual product.

Solid banks $63M for easier deployment of embedded fintech products View Story