# Bankingly

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bankingly

- Industry: Software
- Headquarters: Montevideo, Uruguay
- Website: www.bankingly.com
- Total disclosed funding: $7.5M
- Latest round: Series A (Jun 29, 2023)
- Investors on record: 7

## About

Based in Uruguay, Bankingly provides innovative digital financial solutions that enhance customer engagement and streamline banking operations for financial institutions across Latin America and Africa.Bankingly, founded in 2015 in Montevideo, Uruguay, specializes in digital financial solutions. Martin Naor serves as both the CEO and founder. The company has completed 3 deals, with the latest being a Series A funding round on June 29, 2023, where they raised USD 2.25 mn. This funding round was led by Oikocredit, with participation from EMTV, Elevar Equity, Puerto Asís Investments, and Sonen Capital.Bankingly specializes in providing digital financial solutions designed to enhance customer engagement and streamline banking operations. The company’s core product offerings include web and mobile banking applications, digital onboarding and loan origination services, and fraud prevention tools. These solutions enable financial institutions, such as banks and credit unions, to efficiently manage customer interactions, facilitate secure application processes through advanced biometric verification, and reduce risks associated with fraud via real-time monitoring and user scoring systems. Bankingly's products are tailored to various financial entities across Latin America and Africa, specifically targeting markets such as Kenya, Mexico, Ecuador, and the Dominican Republic. Their flagship product, ABConnect, serves as an omni-channel platform that integrates services through mobile applications and internet banking, enhancing the digital transformation efforts of their clients.Bankingly generates revenue through a subscription-based model tailored for financial institutions. Clients typically enter into partnerships with Bankingly, contracting for services that include access to its mobile banking applications, digital onboarding, and fraud prevention systems. Revenue is derived from monthly or annual subscription fees for these services, which are priced based on the scale of implementation and the specific solutions utilized by each institution. This pricing strategy is designed to align with the operational needs of diverse financial entities, including credit unions and banks across various geographical regions.In June 2023, Bankingly raised USD 2.25 mn in Series A funding led by returning investor Oikocredit, with contributions from EMTV, Elevar Equity, Dalus Capital, Sonen Capital, and new investor Puerto Asís. The company plans to use this funding to expand its presence in Latin America, Africa, and Asia while continuing to innovate its product line to meet market demands.

## Funding rounds

- Series A, Jun 29, 2023, $2.3M — Elevar Equity, Oikocredit, Sonen Capital, EMTV, Puerto Asís Investments
- Series A, Nov 14, 2018, $5.3M — TPG, Elevar Equity, Endeavor Catalyst

## Investors

- TPG (https://capitalatlas.ai/funds/tpg) — Series A
- Elevar Equity (https://capitalatlas.ai/funds/elevar-equity) — Series A
- Endeavor Catalyst (https://capitalatlas.ai/funds/endeavor-catalyst) — Series A
- Oikocredit (https://capitalatlas.ai/funds/oikocredit) — Series A
- Sonen Capital (https://capitalatlas.ai/funds/sonen-capital) — Series A
- EMTV — Series A
- Puerto Asís Investments — Series A