Exclusive: U.S. digital banking startup Cogni closes $1.7 million seed funding [Reuters]
Barclays PLC (BCS)
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Source: Reuters
Exclusive: U.S. digital banking startup Cogni closes $1.7 million seed funding | Reuters 3 Min Read NEW YORK (Reuters) - Cogni Inc, a New York-based digital banking start-up that wants to hold deposits for consumers and book their hotels, flights and movie tickets, recently closed a $1.7 million seed funding round as it prepares to launch. The two-year old company, which is 2 percent owned by Barclays Plc, has also hired a boutique merchant bank to advise its Series A funding, which is typically the first significant round of venture capital financing. Cogni plans to operate on a borrowed charter and has no plans to apply for an independent charter, Chief Executive Officer Archie Ravishankar told Reuters, who disclosed the seed funding. The decision could show that the company sees itself as more of a technology company than a banking company. Many fintech companies are hesitant to apply for the charter because none have been awarded yet and no one wants to be the test subject. “We ar
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