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Brim secures $85m in Series C Funding to fuel global expansion

By Delisha Fernandes

April 04, 2024

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BrimBrim Financial (“Brim”), a FinTech infrastructure company, has raised $85 million Series C funding round to fuel global expansion.

The funding round was led by Export Development Canada, with support from Vistara Growth alongside return investors White Owl Group, Epic Ventures, and Zions Bank.

“This funding will accelerate Brim’s growth and fuel our international expansion,” said Rasha Katabi, CEO and Founder of Brim. “We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”

This landmark financing will fuel Brim’s US expansion strategy, including extending its market reach, accelerating product development and forging strategic alliances.

Brim’s modular platform and highly scalable product suite fully empowers financial institutions, FinTechs and large international brands to run and evolve their product platforms to meet their customer and market needs. Brim’s technology enables these partners to significantly decrease time to market while reducing the cost and challenges associated with building and maintaining advanced capabilities independently.

Since successfully closing the firm’s Series B funding round, Brim has:

  • Entered into a transformational partnership with Mastercard, including integration of its open banking capabilities to modernize credit card infrastructure in the U.S.
  • Formed a strategic partnership with TrueNorth to deliver Credit Cards-as-a-Service platform to financial institutions and fintech customers in North America.
  • Successfully rolled out credit-card-as-a-service (PaaS) to banks, credit unions, and major international brands, including Laurentian Bank, Affinity Credit Union, CWB, and Air France-KLM.
  • Expanded strong momentum in the U.S. market with middle market U.S. banks.

“Brim has all the elements for success – an innovative product, rapid growth and a visionary management team,” said Guillermo Freire, Senior Vice-President, Mid-Market Group, EDC. “With EDC’s investment, Brim will continue to be positioned as a market leader and drive its growth into new markets, bringing proven solutions to financial institutions and enterprises.”

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