Canadian fintech infrastructure company Brim Financial has secured $85m in a Series C funding round led by EDC Investments.

Brim Financial focuses on the transformation of the credit card platform and payment automation space.

The latest funding is expected to drive its growth strategy in the US. It includes the fintech infrastructure company’s market reach expansion, acceleration of product development, and signing of strategic partnerships.

The financing round also saw the participation of Vistara Growth along with return investors Epic Ventures, White Owl Group, and Zions Bank.

EDC Investments mid-market group senior vice-president Guillermo Freire said: “Brim has all the elements for success – an innovative product, rapid growth and a visionary management team.

“With EDC’s investment, Brim will continue to be positioned as a market leader and drive its growth into new markets, bringing proven solutions to financial institutions and enterprises.”

Established in 2017, Brim Financial offers modular platform and scalable product portfolio. The suite of solutions from the firm are designed to help financial organisations, international brands, and fintechs in operating and modifying their product platforms to address the customer and market requirements.

The company’s technology allows its partners to reduce time to market along with mitigating the cost and challenges.

Brim Financial CEO and founder Rasha Katabi said: “This funding will accelerate Brim’s growth and fuel our international expansion.

“We will continue to execute on our robust product roadmap, focus on platform automation, and integrate open banking capabilities. Brim aims to redefine the credit card and payment infrastructure landscape and empower our customers to succeed in a rapidly changing environment.”

According to Brim Financial, the closing of its Series B funding round enabled its collaboration with Mastercard which included the integration of its open banking offerings to transform credit card infrastructure in the US.

The company also forged a partnership with TrueNorth to offer credit cards-as-a-service platform to financial firms and fintech customers in North America.

Besides, Brim Financial introduced credit-card-as-a-service to credit unions, banks, and major international brands.