Willkie Advises Insight Partners on its Investment in UK Fintech Banked

November 16, 2022

On November 15, Banked, a UK-headquartered fintech company that is developing a global Pay by Bank network, announced an extended Series A funding round led by Willkie client Insight Partners. 

The investment round was supported by Citi and National Australia Bank Ventures, as well as newly announced commercial partner and global payments firm Rapyd.

The extension came as a result of an oversubscribed Series A earlier this year that was led by Bank of America. This latest infusion of capital brings Banked's total investment raised to date to over $50 million and includes the participation of new investors supporting the company's expansion into new geographies, with a focus on the U.S.

Founded in 2018, Banked is aiming to become the leading provider of alternatives to card payment methods. 

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies. As of June 30, 2022, the firm has over $80 billion in regulatory assets under management. 

The Willkie team was led by partner Philip Coletto and included associates Autri Saha and Oliver Smith.