Toronto-based fintech company Brim Financial, which provides a digital platform and services for credit card issuance and management, has announced a Series C raise of $85 million.
“This funding will accelerate Brim’s growth and fuel our international expansion,” said CEO Rasha Katabi in a press release.
Founded in 2015, Brim Financial has been riding the digital tide in the fintech sector, earning recognition as one of the fastest-growing tech companies in North America, according to Deloitte’s Technology Fast 50. Brim’s “credit-card-as-a-service” platform has also earned recognition from industry experts for its capabilities and offers a suite of payment solutions for businesses and consumers.
The funding is set to supercharge Brim’s expansion plans in the U.S., where it aims to widen its market reach, speed up product development and build more partnerships. As part of this growth trajectory, the company is gearing up to increase its workforce across all departments to meet rising product demand and customer needs.
“We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities,” said Katabi. “Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”
Export Development Canada (EDC) led the Series C round with investor interest and participation from Vistara Growth, along with returning investors White Owl Group, Epic Ventures, and Zions Bank.
Since closing its Series B round, Brim has partnered with industry giant Mastercard. Their collaboration led to the integration of open banking features, modernizing credit card infrastructure in the U.S.
Brim also teamed up with TrueNorth to deliver credit card-as-a-service platforms to financial institutions and fintech clients across North America, and rolled out its credit-card-as-a-service to banks, credit unions and major international brands, including Laurentian Bank, Affinity Credit Union, CWB and Air France-KLM.
