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# Uruguay-based fintech Bankingly raises $11 million in funding
- URL: https://www.techloy.com/uruguay-based-fintech-bankingly-raises-11-million-in-funding/
- Published: 2022-05-20T12:43:13.000Z
- Updated: 2022-12-08T00:54:46.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech, Uruguay

[Bankingly,](https://www.bankingly.com/?lang=en) a fintech firm based in Uruguay has raised $11 million in its new funding round led by Dalus Capital. 

- The funds will help the software-as-a-service (SaaS) company expand into 25 new markets, widen its presence in Latin America and make entry into Asian markets while also increasing development in Africa.
- The startup plans to expand its product offering and attract more partners and users to its SaaS platform with over 3.5 million existing users.
- Bankingly partners with cooperatives, microfinance institutions and small and medium sizes banks in emerging markets to promote their digital channels and facilitate financial inclusion.
- IDB Lab, IDC Ventures, Athos Group, Kube Ventures, Grupo Finacess, iThink VC, Sonen Capital and Oikocredit participated in the funding round.