Astra Raises $10M in Series A Funding; $30 million line of credit
astraan instant card-to-card funding provider as a service based in San Francisco, California, USA, raised $10 million in Series A funding.
The round was led by FPV Ventures, with participation from Slow Ventures and Allegis Capital. The company also received a $30 million line of credit through CoVenture.
Astra intends to use the funds to support the expansion of its team, with a particular focus on engineering and compliance resources, to enable faster payments from any source to any which destination.
Founded in 2016 by Gil Akos and Sam Morgan, the company is a provider of advanced bank-to-bank transfer technology for financial institutions, fintech startups and enterprises. Through lightweight API integration, Astra offers a platform that allows developers to add faster settlement and financial automation to their existing products. Developers can enable accelerated, reduced-risk transfers without having to consider compliance specifications, capital commitments, or operational costs. While many payment platforms offer an incomplete solution, i.e. they only allow access to payment networks without additional fraud prevention, the dynamic all-in-one solution of ‘Astra incorporates risk mitigation and anti-fraud measures, powering a certain level of financial functionality. which was previously inaccessible.