Weav raises $4.3M to knit a universal API for commerce platforms
Weav, which is building a universal API for commerce platforms, has announced its $4.3 million in funding from its investors, and a partnership with Brex today.
Founded last year by engineers Ambika Acharya, Avikam Agur and Nadav Lidor after participating in the W20 YC batch, Weav has joined the wave of fintech infrastructure companies that aim to give fintech and financial institutions a boost.
Weav’s embedded technology, which is designed to give these organizations access to “real-time, user-permission” commerce data that they can use to create new financial products for small businesses.
The products allow its customers to connect to multiple platforms with a single API that was developed specifically for the commerce platforms that businesses use to sell products and accept payments. Weav operates under the premise that allows companies to build and embed new financial products and create new opportunities for e-commerce merchants, creators and other entrepreneurs.
Having seen impressive traction in a short amount of time, the startup has attracted the attention of a large list of big investors, including institutions and the founders of prominent fintech companies.
Recently, Brex launched Instant Payouts for Shopify sellers using the Weav API. It supports platform integrations such as Stripe, Square, Shopify and PayPal.
