Productfy brought in a $2.35 million seed round to create a platform that allows non-bank companies to develop and launch their own fintech applications.
Point 72 Ventures led the round and was joined by Envestnet Yodlee Incubator. It gives Santa Clara-based Productfy total funds raised of approximately $2.4 million since the company was founded in 2018, according to Duy Vo, founder and CEO of Productfy.
The company is also now working with a group of partners, including card issuer Marqeta, financial data provider Yodlee, banking partner Avidia and Equifax, to expand its underlying framework to offer additional functions and capabilities. Before this round, the company was bootstrapped. With the new funds, Vo rounded out his leadership team in an effort to “build a repeatable playbook and turn it into a sales and marketing engine.” The company also will extend existing partnerships and invest in product development.