June 14, 2024

Investments & Exits

Banyan Makes An Impact With A Superlative Fundraising Round

Banyan, a data network for SKUs, announced it has raised $43 million in a Series A round led by Fin Capital and M13. This brings the company’s total funding to $53 million.

The Fintech startup further announced that it has secured a $60 million investment round. The round was led by FIS Impact Ventures, The Bridge Bank (Western Alliance Bank subsidiary), Interplay, and TTV Capital. Other investors include Jonathan Weiner, Kush Saxena, and David Chubak. The fintech’s board includes Walmart and American Express veteran Janey Whiteside.

Banyan helps retailers and financial institutions track business expenses and support loyalty and customer engagement programs. It added tens of thousands of merchants last year. The latest funding will improve the company’s technology and infrastructure.

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