Vancouver, British Columbia-based Fispan, a contextual business banking platform, has secured US$19 million in financing. The round was backed by Fintop Capital and Canadian investors Rhino Ventures, BDC Capital and Panache Ventures. Founded in 2016 by ex-Hyperwallet CEO Lisa Shields, Fispan has developed a turnkey product that helps financial institutions offer commercial banking services embedded in any business application.
Vancouver-based FISPAN to Double Its Staff as Banks Respond to Acceleration of Digital Commerce Demands
VANCOUVER, BRITISH COLUMBIA (PRWEB) JANUARY 11, 2021
As most major companies continue remote work—with many extending their work-from-home mandate into the summer of 2021—demand for a modernized and better business banking experience has never been greater.
Small businesses in particular have consistently been underserved in the banking sector, despite the fact that small and medium-sized businesses make up 99 per cent of all businesses in North America. They have also been hit the hardest by the pandemic. According to the latest Yelp Economic Average, as of August 31, 2020 nearly 100,000 small businesses in the U.S. have closed since the start of the pandemic. In Canada, a report released by CFIB in July estimated that 158,000 small- and medium-sized businesses were at risk of closing. That number is now estimated higher as Canada battles through the second wave of the virus.
FISPAN has been working with some of the largest banks in North America to simplify the business banking experience in order to better support its commercial clients, with a lens on small- and medium-sized business owners to help them navigate through these critical times. It is the only company that enables banks to easily connect their legacy systems to their business banking clients’ accounting systems in order to offer integrated digital banking, trade, and payment solutions.
FISPAN is experiencing continued growth moving into 2021:
FISPAN banking partners collectively hold $8 trillion in assets and include eight of the largest banks in North America
The company has raised a total of $19M USD from marquee investors including US-based fintech specialist FINTOP Capital and Canadian investors Rhino Ventures, Business Development Bank of Canada (BDC) and Panache
Funding will be used to continue to double down on the experience of existing customers and to expand FISPAN’s bank customer base outside of North America to include Asia-Pacific and Europe
Now hiring software developers, business analysts and customer service representatives
“The adoption of technologies to improve the commercial banking experience has sped up during the COVID-19 pandemic, and it’s only going to continue to accelerate,” explains CEO Lisa Shields. “We’re moving as fast as possible to get our new banking partners integrated while also introducing new services that will give their business clients more choices and control over their banking and financial data. The new hires will play a pivotal role in this.”
Having raised a total of $19 million USD, FISPAN is now working on bringing its service to new markets outside of North America, focusing on the UK, Europe and the Asia-Pacific region.
Hiring to be completed in the first quarter of 2021.
FISPAN is looking to fill various roles: software developers, business analysts and customer service representatives; and the majority of the new hires will be remote, which means candidates from across Canada and the US can apply. Benefits new hires can anticipate include a Leadership Training Program and a New Graduate Program for recent post-secondary school graduates, with both focused on accelerating career opportunities that support the pace of the rapidly growing start-up.
Interested candidates can apply at fispan.com/careers.
FISPAN is the market leader in ERP banking. Our turnkey platform makes it simple for banks to offer commercial banking services embedded in any business application. FISPAN powers best-in-class commercial banking experiences by removing friction and adding value to how the bank’s clients operate their business. Visit fispan.com to learn more.