Our investment in Weavr

We’re delighted to officially join the Weavr journey, joining a stellar list of co-investors. We’ve been looking for something Weavr-shaped for a long time, and here’s why:

As fintech applications have exploded over the past couple of years, so too has the infrastructure providers that power them. Companies like Synapse and Railsbank have emerged as leaders at servicing, and growing with, these burgeoning customers.

On the whole, these fintech customers — like our own portfolio company, Wagestream — are well-versed in the risks associated with such applications. After all, financial products are core to their own business.

Yet, as time has progressed, a broader set of customers have become interested in entering the world of finance. Many marketplaces and SaaS companies with limited or no prior financial features have awoken to the benefits of embedding financial services into their offerings.

They understand that by leveraging their existing customer relationships and proprietary company operating data, they’re able to offer more tailored, more efficiently priced products, right when and where their customers need them.

And by doing so, they’re able to build richer, deeper, more trusted relationships, resulting in greater engagement, retention and monetisation of their customers while providing a huge upgrade on the existing experience of visiting a bank.

This all sounds great and logical but the early infrastructure providers haven’t designed their product around this new breed of financial innovator, which is where Weavr comes in.

Dealing with risk and compliance effectively can be highly complex, particularly for companies whose primary MO isn’t financial services. Existing BaaS platforms typically outsource this to their customers, resulting in long and expensive times-to-market (c. 1 year).

Weavr has simplified this by building a low-code platform where processes and procedures can be codified against the underlying financial products they’re supporting. In doing so, removing complexity by creating a context-driven risk and compliance engine.

They’ve integrated a number of best-in-class providers for each underlying product (e.g card issuing or transaction initiation). These can be orchestrated by use-case, geography and volume so that customers only ever need one embedded finance partner.

The result is a new way for developers to integrate financial services into their software applications that Weavr calls “Plug-and-Play Finance”.

But of course, we don’t just back a smart thesis - it was the Weavr team that really got us excited. They bring deep domain experience across payments and enterprise SaaS and are led by 3rd-time founders and payment veterans, Alex Mifsud and Adrian Mizzi.

Having such a standout product in the hands of such an experienced team is an investor’s dream and we couldn’t be more excited to join Weavr on this journey!