AccessFintech bags $20 million Series B funding round

By Aisling Finn on Tuesday 6 October 2020

Digital Banking

The funding will be used by the fintech to build more products and bolster its expansion plans.

AccessFintech bags $20 million Series B funding round
Image source: Roy Saadon (left)/Studio Ventana for AccessFintech

 

Workflow collaboration fintech AccessFintech has closed a $20m Series B funding round. 

The round, which was led by Dawn Capital, saw participation from some of the world’s largest banks including Deutsche Bank, JP Morgan, Citi and Goldman Sachs. 

To date, the Israeli fintech has raised $37m and plans to use the fresh cash to build new products and accelerate its international growth. 

AccessFintech is creating a network of users that share financial data to collaborate on solutions, the distribution of data and streamline the addition of new customers to foster a complete ecosystem of data and workflow management.  

Roy Saadon, CEO of AccessFintech, said: “Over the past two years our mission to evolve the financial industry operating model has gained significant traction and it is testament to the energy and skill of our team, the support of our clients and our wider network that we have reached this important milestone.” 

Since its launch in 2015, AccessFintech has already launched 10 financial products, with 11 more in production or the beta testing stages. 

Sarah Shenton, growth investor at Goldman Sachs, said: “The pandemic has accelerated widespread adoption of fintech, a trend clearly seen at AccessFintech in terms of new participants and volume on the platform.” 

“AccessFintech’s offer has successfully created a shared data network and workflow, enabling more collaborative and efficient exception management. We are delighted to support their development and continued success.” 

The fintech currently has 93 organisations employing its collaborative workflow processes, with 45 companies live in its ecosystem and another 38 in partnership with the fintech.

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