Credit-card startup Brim Financial Inc. is shifting its focus to quickly build tailored cards and rewards programs for financial institutions, fellow startups and retailers, capitalizing on a boom in e-commerce spurred by the pandemic.
Toronto-based Brim has raised $25-million in a funding round led by Quebec-based Desjardins Group and U.S.-based Epic Ventures, with participation from investors including goeasy Ltd., White Owl Capital and Impression Ventures. The new funding pushes Brim’s valuation close to $100-million, and signals a new phase in its efforts to break into a crowded market for cards and loyalty rewards.
Brim is also one of just a handful of early-stage companies led by women to complete a funding round in excess of $20-million in Canada, as female entrepreneurs still face added barriers. Founder and chief executive officer Rasha Katabi started the company after nearly two decades working in banking and consumer finance, and may be at the …