Flybits Inc. announced that it raised $35 million in Series C funding, led by Point72 Ventures, with participation from Mastercard, Citi Ventures and Reinventure, according to a press releasee. 

The company, with offices in Toronto and San Francisco, uses data intelligence to help banks make personalized recommendations to customers. For example, the company might gather data from account activity or how long a customer has used the bank to develop unique offers. 

The new funding is being used to expand the company's European, Latin American and U.S. offices, where the company is growing its presence in New York. The firm is also commercializing its artificial intelligence and machine learning patents. Lastly, the company is developing a marketplace that facilitates partnerships between large banks, fintechs and other data providers. 

"Banks are looking for ways to maximize their use of data and better engage with customers about their products and services in the digital environment," Hossein Rahnama, founder and CEO of the company, said in the press release. "Flybits enables banks to use real-time data and contextual intelligence to shift to those new models and go to market faster without over reliance on their IT department."