Zurich / London – Imburse AG, a rapidly growing Swiss enterprise SaaS company empowering large companies with payments-as-a-service solutions, today announced its completion of a $1.7 million bridge funding round. Institutional investors PostFinance CVC, based in Switzerland, and SixThirty, a US-based VC, led the round, with existing investors also participating. The funding round will support Imburse’s European growth plans for its platform that simplifies integration into the global payments eco-system.
Imburse was founded to help large companies easily access the vast offering of the global payments ecosystem in order to deliver on customer engagement and business optimisation goals. Imburse’s enterprise platform completely revolutionises integrations of new transaction-related services into core IT systems, significantly reducing deployment times and costs while completely future-proofing corporate IT systems against changes in the payments ecosystem.
The financing comes at a time of extremely high demand for Imburse’s platform in different regions and from different verticals, requiring significant investment in the platform’s capability and reach. Imburse has continued to secure several key multi-national clients in insurance and banking, as well as finalising key channel partnerships to further deliver exceptional growth.
Imburse was named as “Winner” of the “Ecosystem” category of the “Finance-IT Innovation Award 2019” in May 2019, as well as ones to watch in the “Fintech Power 50” report in June 2019.
Oliver Werneyer, co-founder of IMburse AG, said: “In 2018 we delivered a massively efficient and scalable platform, secured important clients and grew our pipeline significantly. With PostFinance CVC, SixThirty and our existing investors, we are working with the right partners to expand our world leading solution to other markets and other verticals.”
This investment will allow Imburse to invest significant capital and time into expanding and growing its enterprise platform, strengthen product management and grow the project delivery teams. Imburse currently focusses on the insurance sector in Europe but aims to expand into financial services and transport sectors in Europe and North America in the immediate future, before growing into all major verticals in all geographies.
Carl Strempel, co-founder of IMburse AG, said: “The global payments ecosystem is undeniably complex and evolving at a rapid pace. More than ever companies require an agile and simple means to connect with the right payment providers without requiring them to re-build their IT and business processes every time something new comes along. With PostFinance CVC and SixThirty we have found partners that share in our vision and have the network and scaling knowledge to support our global expansion plans.
Atul Kamra, Managing Partner of SixThirty, said: “In a ‘pay-as-you-go’ / ‘pay-as-you-like’ world, the IMburse solution stands ready to enable CFOs and corporate treasury departments to meet shifting consumer expectations.” Kamra added, “we are impressed with the domain expertise of the IMburse team, and are excited to back another Zurich-based FinTech company bringing a much needed payments infrastructure solution to global markets.” (Imburse/mc/ps)
Founded in 2018, Imburse’s award-winning technology provides all companies with a simple way to connect core IT systems to the global payments ecosystem and enables companies to leverage payments as a key value driver and competitive advantage for the company. Imburse’s team is comprised of insurance, technology, enterprise and payments veterans with offices in Zurich and London.
SixThirty is an early-stage venture fund that invests in enterprise technology companies from around the world building FinTech and InsurTech solutions for incumbents. Each year, SixThirty invests in 8-12 new companies and participates in select follow-on opportunities. Companies that receive an investment from SixThirty are eligible for the SixThirty Go-To-Market Program, which entails curated meetings with corporate partners, hands-on training, mentoring, and networking opportunities with industry incumbents
About PostFinance CVC
PostFinance Ltd is one of Switzerland’s leading financial institutions. Through its corporate venture capital (CVC) programme, PostFinance participates in innovative start-ups and supports them with limited funds in the form of equity. This also means PostFinance is directly involved in market changes, enabling it to identify emerging products, services, technologies and business models at an early stage. PostFinance is especially interested in high-growth start-ups in the fintech sector. The start-ups benefit from a reliable, efficient and long-term investor.