Rewire, a neobank for expats, raises $20 million to extend financial services thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Online migrant workers bank Rewire raises $20m
The Tel Aviv-based company s mission is to empower every migrant to fulfill their financial potential for a better future, for themselves and their families.
Israeli online migrant workers bank Rewire today announced the completion of a $20 million Series B financing round. The Tel Aviv-based company, which develops cross-border online banking services for expatriate and migrant workers worldwide, also said that it has obtained a significant line of credit from a leading bank.
The financing round was led by OurCrowd, and included new investors Renegade Partners, Glilot Capital Partners and AME Cloud Ventures as well as previous investors Viola Fintech, BNP Paribas through their venture capital fund Opera Tech Ventures, Moneta Capital, and private angel investors.
March 2, 2021 @ 9:27 am By JD Alois
Rewire, a digital banking startup that is targeting cross-border banking services has announced a $20 million Series B funding round. The round was lead by leading global crowdfunding platform
OurCrowd and also included a line of credit from an undisclosed bank.
According to a release, Rewire’s mission is to empower migrants with digital financial services. The additional capital will enable the Fintech to enhance its product portfolio and services, as well as its strategic partnerships in various countries.
New investors in the round include Renegade Partners, Glilot Capital Partners, and Jerry Yang, former Yahoo! CEO and director at Alibaba, through AME Cloud Ventures. Current investors who participated include Viola Fintech, BNP Paribas through their VC fund Opera Tech Ventures, Moneta Capital, as well as private angel investors.