US Fintech Episode Six Raises $7 Million from HSBC, Mastercard

Episode Six, a developer of financial and payments products, has secured $7 million in a recently closed Series A funding round, the company announced on Wednesday.

The round was led by HSBC and was participated by financial giants like Mastercard and SBI Investments, an existing investor in the company.

“Financial institutions and innovators in other industries like healthcare are beginning to realize the constraints of legacy technology, especially given the increasing demand for new products and streamlined efficiencies,” Episode Six CEO John Mitchell said in a statement.

“We have developed financial technology which, via more than 500 APIs, facilitates that next level of configurability for companies looking to digitize their account and payments infrastructure or launch new products and solutions. We are pleased our investors share the same vision of helping businesses bring their offerings into the future.”

Going global

Established in 2015, Episode Six is headquartered in Texas, United States, and offers both consumer and business-centric products, and has around 3 million users. Over the past years, the company also expanded its footprint in three major financial markets – Tokyo, Singapore, and London.

With the new funding, the startup will focus further on global expansion.

“Episode Six has proven the power of its technology in Asia-Pacific, helping us develop digital wallet propositions to better serve our customers,” Brian McKenney, chief innovation officer of HSBC’s global liquidity and cash management division, said. “We look forward to exploring opportunities for expanding our product roadmap with Episode Six across other markets in the future.”

“Mastercard is committed to drive the digital economy making lives simple, seamless, and secure. Fostering innovative banking services is essential for us to realize this commitment. To that end, we’re pleased to support Episode Six in its endeavor to expand its activities in Europe,” Jason Lane, executive vice president of market development Europe at Mastercard, added.