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San Francisco based enterprise-grade financial technology platform streamlining the integration between brands and banks raised $32m in Series A funding led by Coatue.
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Ng says banks are focused on their core services and are not adept at building bespoke products for third-party partners. Ng views what Bond is offering as an off-the-shelf solution that lets companies outsource the hard parts of launching financial products. "All brands will become fintech companies eventually," he says, predicting that many firms will follow Apple's lead in launching financial products not only as a way to make money but to deepen their relationship with loyal customers.
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