Washington based securities custodian-and-clearing firm raised $20m in Series A funding from investors including The Treasury, GFC, Torch Capital, TI Platform Management, PruVen Capital, Fin VC, Bain Capital Ventures, and SWS Ventures.
Says Giles: "Incumbent players in this industry have been running on decades-old legacy software for far too long. The status quo in B2B fintech is that APIs are superficial and only skin deep and that it's OK to stitch together half a dozen legacy batch systems, wrap an API layer over the top, and consider that innovation. Clients were unhappy and the market was screaming out for a better solution. Embed is the solution to that problem,"