In addition to DST Global, Imburse attracted its existing investors Addition capital, Lakestar, Guidewire Software, Post Finance, SixThirty Ventures and Backbone Ventures. Additionally, Accenture Ventures, Gramercy Ventures, and individual investors, including Michael Vaughan, former Venmo COO, participated in the round.
The investment will power Imburse’s platform capabilities, accelerate customer growth and allow Imburse to grow its engineering and development team furthers – the company plans to scale its workforce across its three offices in London, Zurich and Lisbon. The company currently employs 32 full-time staff.
Imburse is a software as a service platform that simplifies the way businesses worldwide access the global payments ecosystem. Removing the obstacle of integration when connecting to and using payment providers and technologies, the startup enables insurers, banks, and other enterprises to leverage technologies and payment providers best suited to their business and customer needs. As a result, financial institutions will now avoid costly, time-intensive IT integrations while implementing easy and swift payment transactions in any given market.
Since its founding in 2018, Imburse has grown rapidly, and according to the team, there are no signs of slowing. The company serves clients across 25 countries, including Germany, Switzerland, Spain, Portugal, and the UK. The next phase will also see the Imburse expand its operations to the USA and other regions by 2022.
“We are extremely excited to have raised such a significant amount of funding. It’s a turbulent time for companies worldwide under immense pressure to digitalise, reduce costs, and exceed customer expectations. Unfortunately, the expected huge costs and long delivery timelines usually associated with integrations into core IT systems result in failure to deliver meaningful transformation, especially when it comes to any payments capabilities. Imburse is a simple and cost-effective solution that mitigates the heavy lifting to connect businesses to the global payments ecosystem,” said Oliver Werneyer, CEO of Imburse.