Aeldra and Blue Ridge Bank partner to serve underserved segment in BRICS-Plus countries

By Pavithra R

Blue Ridge Bank, the national bank subsidiary of Blue Ridge Bankshares has announced partnering with Silicon Valley-based financial technology company Aeldra Financial, to launch a mobile neobank called Aeldra.

The neobank bank will target customers in BRICS-Plus countries (Brazil, Russia, India, China, South Africa, and others) who have cross-border banking needs in the United States.

“Aeldra meets a significant need in today’s banking environment. We are proud to partner with Sukeert and his team as we work together to provide unprecedented financial access to an underserved segment in the BRICS-Plus countries,” said Brian K. Plum, President and Chief Executive Officer of Blue Ridge Bank.

Aeldra is a financial services company and banking services are provided by Blue Ridge Bank, member FDIC. It offers interest-bearing accounts with debit cards and mortgage loans, all of which are backed by Blue Ridge Bank’s traditional financial infrastructure. Aeldra plans on offering a line of credit products, such as credit cards, in the near future.

“The U.S. continues to attract the best and brightest from across the world. They deserve seamless access to U.S. financial services. However, the simple act of opening a bank account without an SSN is challenging, as is getting approved for a credit card or loan. Our special partnership with Blue Ridge Bank aims to close the accessibility gap. Brian and Brett are among the most forward-thinking leaders in banking and we are delighted to partner with them,” said Sukeert Shanker, Founder and CEO of Aeldra.

“Sukeert previously built two leading digital banks and we’re excited to help him try to three-peat with Aeldra. Aeldra is at the forefront of accelerating demand for mobile first, global banking services. We look forward to working with them to serve a historically underserved community with their specialized financial needs,” said Brett Taxin, Executive Vice President at Blue Ridge Bank.