So fin(e)ance. Meet Brankas, an open finance startup that allows any business or institution to offer financial services easily. It's starting the year with a bang after raising a $20M Series B.

• Its customers include 40 banks and 100 businesses, including Shopee, UnionBank and more.
• Most of its fintech clients like e-wallets and remittance companies focus on the underbanked.
• It operates in the Philippines, Indonesia and Thailand.

Now, who's banking on Brankas? Insignia Ventures Partners led the round. Beenext, Integra Partners, Visa, AFG Partners and Treasury International also cashed in.

💰  Making any company a fintech

Brankas develops APIs (pre-built tech functionalities) and other financial products. Its partners can use these to offer their own financial services. Plus, they can even reach new customer segments.

• Without APIs, you would spend months or more hiring developers and building the tech yourself. It can be expensive and, sadly, inefficient too. (No one likes slow, clunky websites and bugs!)

🙌🏼  Something for everyone

Its 10+ APIs allow its partners to provide opening online bank accounts, e-commerce checkouts, credit scoring, access to user telecom data, and more.

• Its APIs are in three main areas: payments, data and banking-as-a-service.
• It's seeing 30% MoM growth in API usage. (Basically, their APIs are used by a ton of people!)
• It won a grant from Singapore's Central Bank to develop an open-source core banking system.

🌏  International, baby!

Its new cash will be users to build new APIs and double its team of 100. It's looking to add more payments, data and banking-as-a-service API products.

• It's also heading to Vietnam and Bangladesh early this year, where it has partnered with digital banks and fintechs.

Extra Scoop: SEA gears up for open finance movement.