Banked raises £2.35M in a round led by Force Over Mass

Banked, a London, UK-based startup building a payments business, announced that it completed a seed funding round of £2.35 million ($2.9M).

The round was raised from investors led by Force Over Mass, with participation from Backed, Acrew Capital and high net worth partners including the family office of serial investor and co-founder of indeed.com, Paul Forster.

The proceeds will be used to build more commercial relationships and support its rollout across Europe.

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 £3 million.