Venture Capital
Fintech startup Sila just raised $7.7 million to help developers add banking and payment capabilities to their products. Madrona Venture Group and Oregon Venture Fund led the large seed round. The Portland, Ore.-based startup offers an API that aims to make it easier to enable white-label ACH payment processing, money transfers, digital wallets, and more, all in a compliant manner. The idea is to replace the need to integrate with legacy financial institutions and speed up the time it takes for companies to implement payment features in an app or software product.