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A technology company behind plug-and-play financial solutions has giving a positive trading update a year after a £30m ($40m) fundraise.

London-based Weavr completed a Series A funding round led by Tiger Global in February 2022, which was its third round in 18 months.

In the last 12 months, the total number of users on Weavr’s platform has more than tripled, with close to 1,500 corporates now signed up to the service.

As a result the company has experienced a corresponding surge in transactions through its platform, experiencing growth of over 340 per cent in one year.

Alex Mifsud, co-founder and CEO of Weavr, said: “As the past year has shown, the economic picture can change very quickly, sometimes shifting from month to month.

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“During such times, businesses need inventive ways to generate greater resilience in their operations, and embedded finance offers one of the most effective and exciting ways to do so.

“That’s why we’ve seen such strong performance for Weavr in the past year and also why we’ve signed so many exciting partnerships with leading, innovative businesses.

“By focusing on the needs of our customers, we’ve been able to engender double-digit monthly growth on our customer base in 2022 and have used this momentum to really shape the concept of plug-and-play finance within the wider market.”

The Weavr platform claims to provide everything a business needs to integrate financial services seamlessly into its mobile apps, SaaS applications and other digital properties.

Customers can add more financial services as their businesses grow, and even add financial providers to power them in new geographies.

Weavr’s has onboarded a number of notable clients including Wectory, AllGravy and Corplife.

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