# Binkey

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

- Industry: Financial Services
- Headquarters: Washington, US
- Website: www.binkey.com/
- Total disclosed funding: $3.3M
- Latest round: Seed (Dec 14, 2023)
- Investors on record: 4

## About

Founded in 2022 and based in Washington, US, Binkey, Inc. operates as a provider of financial services that accepts FSA and HSA payments. The company was founded by its CEO, Obiaku Ohiaeri. In December 2023, Binkey, Inc. raised USD 3.3 million in seed funding led by Wellington Management, including Springtide Ventures, Plug and Play Ventures, and Third Culture Capital.

The company focuses on providing tools and technologies that facilitate payment processing for FSA/HSA, debit, and credit card transactions. The firm's primary products include Binkey Ice, which aids customers in identifying health benefit products by leveraging an AI-powered authentication platform; Binkey Pay, which allows merchants to accept FSA and HSA payments at checkout; and Binkey Bursement, which facilitates automated claim filings, allowing customers to get reimbursed from their health benefits plan post-purchase. In addition, Binkey offers reporting tools that provide insights to drive business growth and ensure compliance.

The organization generates revenue through its pricing options, which cost 2.9% + USD 0.30 per credit card transaction.

The organization plans to use the December 2023 funding to support the growth of its revenue.

## Funding rounds

- Seed, Dec 14, 2023, $3.3M — Wellington Management, Plug and Play, Springtide Ventures, Third Culture Capital

## Investors

- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Springtide Ventures — Seed
- Third Culture Capital (https://capitalatlas.ai/funds/third-culture-capital) — Seed