Clip Money announces investment from GLORY to deliver enhanced deposit services for businesses

By Edlyn Cardoza

Clip Money Inc., a FinTech operating in Canada and the United States, announces that Glory, a global leader in cash technology solutions to the financial and retail industries, has participated in the latest fundraising round.

Clip Money simplifies the challenges businesses face when depositing cash, avoiding trips to the bank during business hours, which take time away from their customers. Deployed at convenient locations, including top tier malls and big-box retailers, Clip Money’s platform combines a mobile app with a cloud-based transaction platform, secure connected cash deposit devices and management software to deliver an end-to-end deposit solution to businesses they bank with. Clip Money’s self-service network is operational well past typical bank branch hours, helping drive a better experience and improved cash flow for businesses. Clip is also helping financial institutions extend the reach of their network outside of the branch as they look to reduce costs associated with their locational footprint, manual processes, and in-person transaction processing.

When talking about the investment Toshimitsu Yoshinari, Chief Solutions Officer at Glory, said, “Increasingly we are seeing the combination of digital and physical shared infrastructure solutions to solve real world problems in new ways. As bank branches around the world continue to transform, moving to a more sales-centric model, we’re delighted to invest and commercially partner with Clip Money as they develop new ways to support deposit services for businesses that are not only more convenient, but which deliver a better customer experience.”

Joseph Arrage, CEO at Clip, commented, “In addition to the business depositor benefits, Clip Money is improving the connection between the physical and digital worlds of banking services which, in turn, is helping financial institutions accelerate their digital transformation. Solutions like Clip Money are helping bridge this gap while enabling financial institutions to provide a high level of customer service. I am excited about Glory as an investor and commercial partner as they bring deep global banking relationships and are a proven innovator in the cash management operations space.”