Burbank Secures £5M Funding to Launch Innovative Card-Present Online Payment Solutions in FinTech
Burbank, a pioneering FinTech company based in the UK, is at the forefront of innovations in next-generation payments technology. The company has successfully raised £5 million in Series Seed funding to facilitate the global launch of its cutting-edge platform, Card-Present over Internet (CPoI).
Funding Details and Investors
The recent seed funding round was spearheaded by Mouro Capital, with notable contributions from Anthemis, along with support from Foxe Capital, Portfolio Ventures, and other undisclosed investors. This influx of capital is set to accelerate the deployment of Burbank’s innovative payment solutions in international markets.
About Burbank’s CPoI Solution
Burbank’s flagship product, Card-Present over Internet (CPoI), revolutionizes the online payment landscape by replicating the in-store card-present experience, which typically includes a tap and PIN entry. This development tackles significant challenges in e-commerce, particularly issues associated with card-not-present (CNP) transactions, which are often more vulnerable to fraud, chargebacks, and transaction declines.
CEO Insights
Justin Pike, CEO of Burbank, expressed enthusiasm about the company’s innovative approach: “We are extremely excited to bring this evolution in payments to the world. The payments experience should be the same for everyone, regardless of channel. In-store, we pay by tap and PIN, which is globally trusted and familiar. Now, for the first time ever, we’re enabling the same process in online channels—simple, secure, and scalable. The way it should be.”
Market Needs Addressed
Manuel Silva Martinez, General Partner at Mouro Capital, emphasized the market demand for Burbank’s solution, stating, “I’m thrilled to support Justin and his team of payments experts. Burbank offers a simple, seamless integration through a single white-label SDK, which securely integrates into existing technology stacks and supports multiple schemes on iOS and Android. It’s what the market needs.”
Conclusion
Burbank’s innovative approach to online payments through its CPoI platform marks a significant advancement in the FinTech industry. For more information on their services, you can visit their official website at Burbank.
