Sydney-based fintech and operations platform Constantinople has achieved a significant milestone, securing an impressive $50 million in Series A funding. This round, led by the venture capital arm of Dutch-listed global tech firm Prosus, follows a successful $32 million seed round last year. With this new injection of funds, Constantinople’s total raised capital now stands at an impressive $82 million, a testament to the company’s financial stability and growth potential.
Founded in 2022 by industry veterans Macgregor Duncan and Dianne Challenor, Constantinople is not just another banking platform. It’s a revolutionary Software as a Service (SaaS) platform that is set to transform the global banking landscape.
Having initially garnered support from Great Southern Bank, with whom it maintains a foundational partnership, Constantinople has expanded its client base within Australia and ventured into the New Zealand market. Notably, Great Southern Bank participated in the Series A funding round, alongside existing investors Square Peg and Airtree Ventures.
The infusion of fresh capital will fuel Constantinople’s growth initiatives, including team expansion and further enhancement of its platform’s capabilities. The company, which has seen its workforce grow from 60 to approximately 100 employees over the past year, is poised for accelerated development.
Sachin Bhanot, Regional Head of Investments at Prosus Ventures, commended Constantinople’s innovative approach to addressing key challenges in the financial services sector, emphasizing the company’s potential to reshape banking in the digital age. Prosus Ventures, known for its extensive fintech portfolio, recognizes Constantinople as a strategic investment aligned with its vision for the future of banking.
Co-CEOs Macgregor Duncan and Dianne Challenor, who bring extensive banking industry experience to Constantinople, have earned praise from investors for their leadership and execution prowess. Paul Bassat, Co-founder and Partner at Square Peg, and James Cameron, Partner at Airtree Ventures, lauded Constantinople’s exceptional team and ambitious vision for transforming banking operations through cutting-edge technology.
With a focus on simplifying and modernizing traditional banking processes, Constantinople is poised to make a significant impact on the global financial landscape, backed by strong investor confidence and a dedicated team of industry experts.
