Investec has returned to provide the first tranche of the PayPal and Avios-backed banking platform developer’s series C round, taking its total funding to $162m.

UK-based banking app developer Monese closed a $90m first tranche of its series C round yesterday, with the funding coming from financial services firm Investec.

The two have formed a strategic alliance that involves Investec’s global head of digital and technology Lyndon Subroyen joining Monese’s board. The deal took Monese’s overall funding to $162m, and Investec’s Private Company Fundraising unit will advise the company on a second close.

Founded in 2015, Monese has built an online banking portal which helps…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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