Brick raises $8.5m to build a single API layer for open finance in Southeast Asia
by Startacus Admin
Brick, a fintech API provider allowing Southeast Asian tech companies to offer in-app financial services with a single line of code, has raised $8.5m to build a single API layer for open finance in Southeast Asia
Brick has raised $8.5 million of funding in a Seed investment round led by prominent global venture capital investors Flourish Ventures and the global venture capital firm Antler.
Other investors in the round include Trihill Capital, existing investors - Better Tomorrow Ventures and Rally Cap Ventures, and notable fintech operators including Sima Gandhi (Plaid, Creative Juice), Yan Wu (Bond), Brian Ma (Divvy Homes), Ooi Hsu Ken (Iterative), Amrish Rau (Pine Labs) and Andrea Baronchelli (Aspire) also participated. The fundraising supports Brick’s vision of powering the next generation of fintech companies with easy to
implement, cost-effective and inclusive fintech infrastructure.
Brick was founded in 2020 by Gavin Tan and Deepak Malhotra (CTO). Gavin was an early employee at Aspire. Deepak built the first unicorn neobanks for millennials in India as co-founder and CTO of Slice.
Brick serves a vibrant and fast-growing tech ecosystem in Indonesia, with more than 5,000 technology companies who are increasingly leveraging fintech in their product offerings. Indonesian fintechs attracted over $1 billion of venture capital in 2021, up from $282 million in 2020.
“Brick is building fintech rails for Southeast Asian technology companies,” said Gavin Tan, CEO. “This funding enables us to accelerate our growth, scale tech platforms to expand our product offerings, and support more developers in the region to build inclusive financial services. We’re delighted to welcome Flourish, and to deepen our partnership with Antler.”
Gavin added, “The funding also allows us to recruit senior local talents in each country where we operate such as Indonesia, so as to localise our product and ensure that it aligns with the best practice and the highest standard of good corporate governance and consumer protection, especially within the ambit of data integrity and protection. Compliance, consumer protection and consumer trust are our top priorities at Brick.”
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Published on: 11th February 2022
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