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Based in Montevideo, Uruguay, Bankingly provides cloud-based digital banking platforms and software-as-a-service solutions to small and medium-sized financial institutions operating throughout emerging markets. The company enables regional credit unions, cooperatives, and microfinance organizations to deploy customer-facing mobile and web applications without requiring heavy upfront infrastructure investments, utilizing a pay-per-active-user pricing model. Bankingly currently serves over 110 institutional clients across 22 countries in Latin America and Africa, reaching a total of more than 3.5 million contracted end-users. The enterprise has secured over $16 million in total venture funding to date, which includes an $11 million investment round led by Dalus Capital to accelerate its international expansion. The organization's capitalization table features several notable institutional investors, including Elevar Equity, Endeavor Catalyst, IDB Lab, and Oikocredit. Bankingly was established in 2015 by founder and chief executive officer Martín Naor.
Bankingly has raised $16.0M across 2 funding rounds.
Bankingly has raised $16.0M in total across 2 funding rounds.
Bankingly has raised $16.0M across 2 funding rounds. Most recently, it raised $11.0M Series A in May 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2022 | $11M Series A | — | CAV Investment Group, Dalus Capital, Kayyak Ventures, Alexander Torrenegra, Jeronimo Uribe, Joao Otavio Oliverio, Jonathan Wasserstrum | Announced |
| Nov 1, 2018 | $5M Series A | — | Blockchain Coinvestors AngelList Syndicate, Colle Capital, Greycroft, Inovia Capital, NextView Ventures, Trajectory Ventures, True Ventures | Announced |
Bankingly is a fintech company providing a customizable SaaS platform for digital banking channels, enabling small and medium-sized financial institutions (SMFIs) in emerging markets to offer web and mobile banking, digital onboarding, conversational banking via WhatsApp/SMS/USSD, loan origination, fraud prevention, and more.[1][2][3] It serves banks, credit unions, cooperatives, and microfinance organizations primarily in rural or underserved areas across Latin America, Africa, and Asia, solving operational challenges like high costs, limited tech access, and poor customer engagement by delivering affordable, plug-and-play solutions that drive financial inclusion.[1][2][5] With over 120 clients in 22 countries, 573,000 registered users (266,000 active), and demonstrated growth—such as 11% average savings increase, 300% card transaction rise, and 45% cost reduction for partners—Bankingly shows strong momentum, bolstered by recent USD 2.5M Series A1 extension in 2025 and prior raises totaling over USD 18M.[2][4][6]
Bankingly was founded in 2015 in Montevideo, Uruguay, by Martin Naor, an entrepreneur with prior experience building digital banking software for large banks in Latin America and the Caribbean.[1][2] Naor identified a gap: SMFIs, especially in emerging markets, lacked affordable, customizable digital tools to compete digitally, stifling growth and financial access for underserved populations.[2][5] The idea emerged from addressing these institutions' operational hurdles, starting with a cloud-based SaaS model priced by active users to align costs with benefits.[4] Early traction built steadily—entering Central America by 2017, securing a USD 5.25M Series A led by Elevar Equity in 2018, expanding to 50+ clients by 2019, and signing its first African client in 2020 amid market entries in Mexico, Colombia, and Honduras.[5] Pivotal moments included a USD 11M second round in 2021, launching products like conversational banking and digital onboarding in 2022, and onboarding 110+ clients across 20+ countries by then, proving resilience even after initial slow adoption requiring business model tweaks for security demonstrations to regulators.[2][4][6]
Bankingly stands out in the fintech space through these key strengths:
Bankingly rides the financial inclusion wave in emerging markets, where digital banking adoption has surged—e.g., Latin America bank account ownership rose from 52% in 2014 to 79% in 2023—fueled by smartphone penetration and post-pandemic digital shifts.[6] Timing is ideal amid regulatory pushes for secure cloud tech and SMFIs' need to digitize amid competition from neobanks, with market forces like cost pressures and underserved rural populations (billions unbanked globally) favoring its affordable model.[1][2][5] It influences the ecosystem by empowering 4 million end-users via 120 institutions, boosting deposits/savings, and fostering competitiveness for microfinance players, thus accelerating inclusion without displacing incumbents—positioning it as a key enabler in fintech's democratization of finance.[2][4][6]
Bankingly is primed for accelerated expansion, leveraging its 2025 funding to innovate in AI-driven personalization, deepen Asia/Africa penetration, and scale to 200+ clients amid rising demand for compliant, low-cost digital tools.[4] Trends like embedded finance, real-time payments, and regulatory digitization will propel it, potentially tripling active users as SMFIs digitize. Its influence may evolve from niche enabler to regional leader, further transforming professional capital into inclusion at scale—echoing its founding vision of democratizing access for the underserved.[2][6]
Bankingly has raised $16.0M in total across 2 funding rounds.
Bankingly's investors include CAV Investment Group, Dalus Capital, Kayyak Ventures, Alexander Torrenegra, Jeronimo Uribe, Joao Otavio Oliverio, Jonathan Wasserstrum, Blockchain Coinvestors AngelList Syndicate, Colle Capital, Greycroft, iNovia Capital, NextView Ventures.
