Shaype, an embedded finance platform provider in Australia, has landed AU$33 million ($21.4 million) in equity in its Series C funding round.
The round was led by Regal Funds Magagement, with participation from a number of family offices.
Shaype says the money will be used to grow its team and Australian client base as well as for international expansion.
It plans to launch a range of embedded finance solutions for the financial services, HR, property and government sectors by the end of the year.
The Sydney-based start-up was founded in 2020. Today, it has a global team of around 100 people and offices in the UK and Poland.
“We started with a vision to create a faster, better, and more embedded financial and payment system,” the fintech says.
This vision is put into practice in “an extraordinary way”, Shaype claims. Through its “universal API adapter” and “pure microservices architecture” the company can sponsor a client’s business in Visa as a Visa principal partner, issue cards, and provide full processing and programme management. It also provides access to Australian payment rails – the New Payments Platform (NPP) and the Bulk Electronic Clearing System (BECS, also known as the direct entry (DE) system).
It also supports accounts and onboarding/know your customer (KYC), digital wallets/tokenisation, real-time fraud monitoring, and data and reconciliation.