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Brankas, an open banking startup, has raised $20M in a Series B round that drew participation from AFG Partners, Visa, and Insignia Ventures Partners, among others.

HOW’S THE COMPANY PERFORMING?

• Indonesia-based Brankas develops APIs for fintechs, financial institutions, and online businesses.
• The company provides over 10 APIs, including those for credit scoring, identity verification, e-commerce transactions, gig payments, and opening online banking accounts.
• Brankas has seen its API usage grow 30% month-over-month.
• The company’s services are being used by over 40 banks.

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The post Southeast Asian Open Banking Startup Brankas Raises Financing — Competitors Include Finverse, Finantier, And Brick appeared first on CB Insights Research.