FISPAN, which provides embedded banking solutions, has raised USD $30 million (CAD $41 million) in a Series B funding round led by Canapi Ventures. The Vancouver-based fintech will use the capital to scale its platform, which integrates banking services directly into enterprise resource planning (ERP) and accounting software used by mid-market businesses.
FISPAN enables banks to offer treasury products and services via plug-ins to ERP systems like Oracle NetSuite, Sage Intacct, and Microsoft Dynamics 365 Business Central. The result is a streamlined experience for nearly 5,000 businesses across North America, allowing them to manage financial workflows, automate routine processes, and reduce manual errors.
“This Series B funding is a pivotal moment for FISPAN,” said founder and CEO Lisa Shields, in a press release. “Canapi quickly distinguished themselves through their understanding of the embedded ERP banking landscape and our unique opportunity within it.”
Shields is a veteran entrepreneur and fintech leader. FISPAN is her second financial technology startup—she previously founded and led Hyperwallet Systems Inc. for 15 years. The company grew into a global leader in mass payment processing before being acquired. Shields is also a member of the Canadian FinPay Committee, was named EY’s Regional Entrepreneur Of The Year in 2015, and received the Women in Payments Innovation Award in 2016.
The company says the new funding will support expanded ERP integrations, AI development, and enhancements to FISPAN’s treasury solutions platform. It will also help grow the company’s go-to-market efforts and support strategic hiring.
As part of the investment, Tom Davis, general partner at Canapi Ventures, will join FISPAN’s board of directors.
“FISPAN is at the forefront of a fundamental shift in how businesses interact with their banks,” said Davis. “Their proven ability to deliver highly sought-after embedded finance solutions positions them for tremendous growth.”
FISPAN was founded in 2016 and is headquartered in Vancouver.