3s.money closes Series B funding to enable further market expansion
UK based FinTech challenger 3S Money
The new investment enables us to strengthen our main asset, people, and further expand the multi-currency business accounts with GBP, EUR and USD direct IBANs into new markets.
Currently we have fully operating offices in five locations: London, Dubai, Amsterdam, Luxembourg, and Riga.
"As an operationally profitable bank challenger serving a distinct segment of the market, it was great to receive such strong and quick support from the VC’s. We service mid-market clients from over 190 countries, supporting their high-value international payments through our extended correspondent network; a market that is dramatically underserved by both the pure online players and big merchant banks."
During the last 12 months of the Covid crisis, we have grown our revenue over 4.5 times, increased the number of team members from 15 to 40 and continued to service our mid-market clients by facilitating the fast and efficient movement of money internationally. Focusing on improving the core product, we have fast-tracked our online wizard for the Smart Compliance journey and have started issuing IBANs in 4 more European countries.
"We are happy to support 3s.money in the new round and we believe that their excellent product will help companies to do business much better than traditional banks do."