Sydney-based fintech Constantinople has raised US$50 million in a Series A funding round led by Prosus Ventures, the venture capital division of Prosus. The firm had previously secured US$32 million in a seed round in 2023.

The funding round also saw participation from several previous investors including Great Southern Bank, Square Peg, and Airtree Ventures.

According to a report by Business News Australia, Constantinople plans to enhance its team and further develop its platform capabilities with this new influx of capital.

Founded in 2022 by banking veterans Macgregor Duncan and Dianne Challenor, Constantinople’s Software as a Service (SaaS) platform is designed to support a broad range of banking services, including transaction banking, payments, lending, and customer experience enhancement through mobile and web applications.

Leveraging software and artificial intelligence, it aims to streamline operations such as customer onboarding, financial crime monitoring, fraud detection, and compliance.

The company’s growth is further evidenced by its expansion into New Zealand and its growing workforce, which has reached about 100 employees, up from 60 in the previous year.

Featured image credit: Edited from Freepik

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