Bond Financial Technologies Inc. raised $32 million in a Series A funding round led by Coatue, with participation seed investor Canaan and new strategic investments by Goldman Sachs and Mastercard.

Bond, which launched in 2019 with $10 million in seed funding, will use the additional proceeds to accelerate hiring and launch pilot programs with its first brand and banking partners.

"We're building an enterprise platform that enables sponsor banks to better onboard and manage brand partners," CEO Roy Ng told Mobile Payments Today via email. "We're creating APIs and SDKs our brand partners need in order to design and build innovative financial solutions."

As previously reported, Bond uses its technology to help banks and companies create innovative financial products that can meet the needs of workers, customers, contractors or vendors where they are. For example, a ride sharing company can create banking products for their drivers or a payments processing company can lend money to their merchants.

Ng said the company is working with a handful of sponsor banks and brands on specific pilot programs.

He also outlined the company's plans in a blogpost yesterday.