Banyan raises $43M to grow its network of item-level purchase data

Banyan, a platform for product purchase data that allows customers such as banks, fintechs, hotels and merchants to automate expense management and more, today announced that it raised $43 million in a Series A funding round — $28 million in equity and $15 million in debt — led by Fin Capital with participation from M13, FIS Impact Ventures and TTV Capital. A source familiar with the matter tells TechCrunch that the valuation is in the “mid-$100 million” range.
CEO Jehan Luth says that the new capital will be put toward product research and development and infrastructur

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