Banked in a $20 million Series A funding round led by Bank of America and Edenred Capital Partners.

Banked, a London, UK-based startup building a payments business, announced the completion of a $20 million series A funding round.

The money was raised from investors led by Bank of America and Edenred Capital Partners, and joined by Sidekick Partners, 9Yards, and Huey Lin, as well as by existing investors Acrew, Force Over Mass, Firestartr, OM2, Love Ventures, Kuvi Capital and Paul Forster.

Banked, founded in 2018 by CEO Brad Goodall, provides an account-to-account payment software platform that lets consumers, businesses and banks process payments in real-time, more securely.

To leverage the Banked checkout system, businesses need to embed the company’s API and this can be done across mobile apps, customer portals, emailed invoices or even text messages. Individuals can also use the free app to create payment links, and start requesting money from anyone, for anything, without sharing any personal banking details. The company charges 0.1% to process payments.

Banked previously raised about $5 million, with a $2.9 million seed round closed in 2020.