Tech

Rewire Raises $ 30 Million to Build Neobank for Immigrants

Israeli FinTech Rewire, which developed cross-border international banking services for migrant workers, has completed a $ 20 million Series B funding round led by Our Crowd.

Renegade Partners, Glilot Capital Partners, and Jerry Yang, former Yahoo! Alibaba CEO and Director, also participated in the Rewire round, securing “significant” lines of credit.

Funded shortly after Rewire is licensed for the EU Electronic Money Institution, it will be able to issue electronic money, provide payment services and transfer money.

The company already offers money transfer services, payment accounts and debit cards, but will add invoice payment and insurance, credit and loan services, investments and savings to provide a complete platform for immigrants. It’s a schedule.

With funding, Rewire expects to accelerate growth, triple its customer base in 2020, and reach 500,000 soon.

Guy Kashtan, CEO of Rewire, said:

“To do so, we aim to provide services that go beyond traditional banking services, such as migrant home insurance payments and savings accounts.”

Rewire Raises $ 30 Million to Build Neobank for Immigrants

Source link Rewire Raises $ 30 Million to Build Neobank for Immigrants

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