- Ansa secures $14 million in Series A funding led by Renegade Partners.
- Existing investors Bain Capital Ventures, BoxGroup, and others also participated.
- Female investors contributed 95.6% of the Series A funding.
Ansa, a fintech startup that helps merchants create and offer virtual nearfield communication (NFC) wallets, has raised $14 million in Series A funding.
Renegade Partners topped up the investment round, with participation from existing investors Bain Capital Ventures, BoxGroup, Wischoff Ventures, and B37 Ventures that joined in.
This way, Ansa has about $19.6m raised in venture capital, with a $5.4m earlier seed round included.
The firm did not quote the valuation then, but they said a substantial premium drove the Series A round to that valuation.
Surprisingly, female investors contributed to 95.6% of the total money available for the Series A round.
Ansa, jointly founded in 2022 by Sophia Goldberg and JT Cho, is an SF-based startup that intends to develop a white-labeled digital wallet infrastructure, resolving for business the problem of small payments and reducing the credit card fees for smaller transactions.
Goldberg adds that Ansa uses "wallet-as-a-service" as a platform on which merchants can go ahead and design their customized form of payment that contains customers' balances.
Ansa, the coffee, QSR, and marketplace industries, is its primary target market. Suppliers such as retail stores and convenience stores will be included in their plans. Branded Wallets reduce the hassle of high credit card fees these businesses pay.
At the start of the second quarter of 2024, Ansa's customer base doubled, although accurate numbers still needed to be revealed.
Ansa charges a fee-based service for transactions, which is the source of the company’s income.
Funding will mainly go to product development and technical services, where 12 people are now employed, and some more are to be used.
According to the Renegade co-founder and General Partner Quintini, the investment in Ansa is the most significant initial investment the Renegade Partners firm has ever made.
Edited By Annette George
