Cross-border neobanking platform Vance raised $5.8 million in seed led by Hummingbird Ventures

October 3, 2022

, By Sarika Parmar

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Cross-border neobanking platform Vance raised $5.8 million in seed led by Hummingbird Ventures where Global Founders Capital, Y Combinator, Soma Capital and angel investors Alan Rutledge and Gokul Rajaram also participated.

Vance began as a recurring revenue-based financing platform before pivoting to a cross-border neobanking platform. The fintech startup intends to use the funds to expand its international banking operations and launch in the UAE and the United Kingdom by December 2022. The global neobanking market is expected to grow at a CAGR of 47.7% to $722.6 billion by 2028. Neobanking startups raised nearly $869 million in funding between 2014 and H1 2022. Niyo, Open, Freo, and others are among the key players.

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Cross-border neobanking platform Vance raised $5.8 million in seed led by Hummingbird Ventures

October 3, 2022

, By Sarika Parmar

Cross-border neobanking platform Vance raised $5.8 million in seed led by Hummingbird Ventures where Global Founders Capital, Y Combinator, Soma Capital and angel investors Alan Rutledge and Gokul Rajaram also participated.

Vance began as a recurring revenue-based financing platform before pivoting to a cross-border neobanking platform. The fintech startup intends to use the funds to expand its international banking operations and launch in the UAE and the United Kingdom by December 2022. The global neobanking market is expected to grow at a CAGR of 47.7% to $722.6 billion by 2028. Neobanking startups raised nearly $869 million in funding between 2014 and H1 2022. Niyo, Open, Freo, and others are among the key players.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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