Brim Financial Receives $25M in a Series B Funding

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Brim Financial Receives $25M in a Series B Funding

CFO Tech Outlook | Thursday, April 01, 2021

Brim's digital-first platform, suite of credit cards and financial products, and globally open rewards and e-commerce ecosystem have grown beyond the direct-to-consumer market.

FREMONT, CA: Brim Financial (Brim), a Canadian next-generation Fintech company and accredited credit card issuer, has closed a 25 million dollar Series B round led by Desjardins Group and EPIC Ventures, with heavy participation from Canadian and US-based investors such as goeasy Ltd, White Owl, and Impression Ventures. Brim's cutting-edge technology stack and credit card infrastructure take advantage of its ability to directly access payment rails as an issuer, allowing it to provide a radically disruptive ecosystem of financial products to customers and businesses.

"Our technology stack powers banking, loyalty and integrated e-commerce on a single platform, with the customer experience at the center of it all," said RashaKatabi, CEO and Founder, Brim Financial. "Today's digital environment has brought a new sense of urgency for institutions to assess how they will interact with their customers. We are well positioned to be at the forefront of this transformation that is shaping the way we live, connect and engage for decades to come, and we are excited to be working with investors who share the same vision."

Brim's Platform as a Service would benefit from the Series B funding (PaaS). The firm's B2B2C strategy enables any bank, credit union, fintech, or major commercial partner to easily roll out Brim's financial products network, credit cards and integrated buy-now pay-later solutions, mobile and digital banking, and behavior-driven customer engagement, all of which are embedded with a best-in-class globally open loyalty and rewards ecosystem available in real-time at all retailers around the world. Brim's Platform as a Service allows partners to customize any aspect of the platform while still taking advantage of Brim's end-to-end capabilities on a flexible and turnkey basis.

"We are thrilled to be part of Brim's next chapter. There is tremendous potential in the industry, both in Canada and in the US, and Brim is uniquely positioned to deliver a significant and much needed transformation." said Ryan Hemingway, Managing Director, EPIC Ventures. "Brim is combining banking and commerce like we have not seen in North America."

Brim's digital-first platform, suite of credit cards and financial products, and globally open rewards and e-commerce ecosystem have grown beyond the direct-to-consumer market. They allow large partners to leverage their digital-first platform, suite of credit cards and financial products, and a globally open rewards and e-commerce ecosystem. Brim seamlessly incorporates buy-now, pay-later features into all of its revolving consumer and business credit card offerings, providing consumers with unrivaled versatility and a distinct ecosystem.

"Brim's platform delivers industry-leading payments technology to their customers at an astonishing pace," Martin Brunelle, Vice-President, Growth, Acquisitions, and Development, Desjardins Group."Desjardins has earmarked $100 M to invest in technology companies and investment funds who can support our different business units in their digital transformation needs. We are very excited to be partnering with Brim."

Brim has the largest open loyalty and rewards ecosystem when combined with its flexible technology infrastructure, as Brim's technology stack directly leverages the global payment network. Brim's Loyalty and Incentives are available in both physical and online shops around the world. In less than three minutes, any merchant can be up and running and contributing to the ecosystem.

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