Funding round led by HSBC with additional investments from Mastercard and SBI Investment Co.
Episode Six, a next-generation financial technology provider, today announced that it has secured $7 million of its Series A funding. The round was led by HSBC and includes investments from Mastercard and SBI Investment Co., Ltd., which first invested in Episode Six through its FinTech Business Innovation Fund in 2017.
“Financial institutions and innovators in other industries like healthcare are beginning to realize the constraints of legacy technology, especially given the increasing demand for new products and streamlined efficiencies,” said Episode Six CEO John Mitchell. “We have developed financial technology which, via more than 500 APIs, facilitates that next level of configurability for companies looking to digitize their account and payments infrastructure or launch new products and solutions. We are pleased our investors share the same vision of helping businesses bring their offerings into the future.”
In the past year, Episode Six has expanded its footprint in three of the world’s largest financial markets – Tokyo, Singapore and London, and rolled out its latest technology enhancements, IONIC and Vertices, which allow for unprecedented flexibility and innovation in creating state-of-the-art, customer-centric financial and payments products. With this new funding, Episode Six will continue to grow and expand globally, delivering enhanced technology that powers digital transformation for companies and institutions in financial services, fintech, health tech and more.
“Episode Six has proven the power of its technology in Asia-Pacific, helping us develop digital wallet propositions to better serve our customers,” said Brian McKenney, Chief Innovation Officer of HSBC’s Global Liquidity and Cash Management division. “We look forward to exploring opportunities for expanding our product roadmap with Episode Six across other markets in the future.”
Jason Lane, Executive Vice President, Market Development Europe at Mastercard noted: “Mastercard is committed to drive the digital economy making lives simple, seamless and secure. Fostering innovative banking services is essential for us to realize this commitment. To that end, we’re pleased to support Episode Six in its endeavor to expand its activities in Europe.”
Currently, 3 million consumers and businesses use products built using Episode Six technology. DLA Piper, a multinational law firm, served as counsel for the Company’s Series A. For more on Episode Six’s future-proofed financial technology, visit www.episodesix.com.
About Episode Six
Episode Six provides a next-generation financial technology platform for creating innovative and differentiated financial and payments products for consumers and businesses, enabling financial institutions, fintechs and other innovative companies to serve their customers better. Episode Six was founded by payments pioneers with the mission of redefining what is possible in the financial services and payments industries – industries that are increasingly burdened with inflexible legacy technology, which severely limits product evolution and innovation. Episode Six’s proprietary, innovative technology was built from scratch and was architected to be future-proofed. It provides unparalleled product customization and on-demand product management capabilities. It is portable and compatible for use anywhere in the world with easy installation, integration and connection facilitated by an extensive and comprehensive set of APIs. Episode Six makes it possible for companies of all sizes to effortlessly design and manage products that consumers and businesses want and need. For more information, visit www.EpisodeSix.com.
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SOURCE: Episode Six