Astra, a San Francisco, CA-based provider of instant card-to-card funding as a service in the U.S., raised $10M in Series A funding.
The round was led by FPV Ventures, with participation from Slow Ventures and Allegis Capital. The company also received a $30M line of credit through CoVenture.
Astra intends to use the funds to support the expansion of its team, with a particular focus on engineering and compliance resources, to further enable faster payments from any source to any destination.
Founded in 2016 by Gil Akos and Sam Morgan, the company is a provider of advanced bank-to-bank transfer technology for financial institutions, fintech startups, and enterprises. Via a lightweight API integration, Astra offers a platform that allows developers to add faster settlement and financial automation to their existing products. Developers can enable accelerated and risk-mitigated transfers without having to take compliance specifications, capital commitments, or operational costs into account. While many payment platforms provide an incomplete solution – that is, only allowing access to payment networks without added fraud prevention – Astra’s dynamic, all-in-one solution has risk mitigation and anti-fraud measures built-in, powering a level of financial functionality that was previously unattainable.
FinSMEs
14/10/2022