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FinTech Ribbit Announces Series A Funding Round

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Ribbit, the AI-powered financial data and tech company, which provides instant bank behavior analytics, has announced Series A funding, a press release said Tuesday (March 15).

The money will go towards supporting growth and accelerating the company’s hiring plans.

ABS Capital led the round, and there was also participation from other financial service industry experts.

ABS Capital works with promising software and services providers making strides in finance.

The report noted that the U.S. Office of the Comptroller of the Currency, almost 50 million Americans don’t have a credit score and can’t access products for lending or other finance services, and the pandemic made all of that worse.

Ribbit was formed in 2020 and the release said the company wants to combat those problems, and better assess risk and fraud.

“Unique circumstances have created an opportunity for Ribbit to make an impact,” said Shawn Princell, CEO of Ribbit. “We find ourselves at the intersection of unexplored economic shifts, dramatic changes in financial health, and exciting new opportunities in…

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