Brick, a fintech API provider that allows Southeast Asian tech companies to offer in-app financial services with a single line of code, has announced raising $8.5 million in a Seed funding round anchored by Flourish Ventures and Antler.
The round was also participated by Trihill Capital, Better Tomorrow Ventures, Rally Cap Ventures, and fintech angels, including Sima Gandhi (Plaid, Creative Juice), Yan Wu (Bond), Brian Ma (Divvy Homes), Ooi Hsu Ken (Iterative), among others.
The fundraising supports Brick’s vision of powering the next generation of fintech companies with easy-to-implement, cost-effective, and inclusive fintech infrastructure.
Brick was founded in 2020 by Gavin Tan and Deepak Malhotra (CTO). Gavin was an early employee at Aspire. Deepak built the first unicorn neobanks for millennials in India as co-founder and CTO of Slice.
Brick builds APIs for fintech and consumer tech companies. These APIs make it easy for popular fintech platforms to offer payment, credit, investment, and insurance products to their consumers by connecting those platforms with hyper-local data sources.
For example, if a user wants to take out a loan, Brick’s technology can immediately connect the platform with the user’s financial account, or gather mobile wallet or employment data to help process the loan application.
This technology automates and integrates the otherwise time-consuming process of collecting data from different sources to facilitate financial transactions.
That means fintech platforms can quickly offer their users a wide range of tailored financial products – and enhances access to finance at a time of accelerating digital adoption across Indonesia and Southeast Asia.
“This funding enables us to accelerate our growth, scale tech platforms to expand our product offerings, and support more developers in the region to build inclusive financial services. We’re delighted to welcome Flourish, and to deepen our partnership with Antler,” Brick CEO Gavin Tan said.
Brick works with thousands of developers in the country and has signed up more than 50 paying clients. These include some of Indonesia’s fastest-growing Indonesian fintechs and conglomerates like Sinarmas Group and Astra Financial.
The company supports more than 13 million API calls and almost 1 million consumers each month.