Productfy Inc., a banking-as-a-service (BaaS) platform that aims to build “DeFi for traditional finance,” has raised $16 million in a Series A round of funding led by CM Ventures.
Existing backers Point72 Ventures, 500 Startups and Envestnet | Yodlee also participated in the financing, which brings its total raised since its 2018 inception to nearly $19 million.
There are a growing number of BaaS companies, which all essentially have the same end goal — to make it faster and easier for fintechs and other companies to launch financial services and products.
Productfy aims to stand out with its mission to build DeFi for traditional finance, according …
