Insights

US-based Fintech Firm Purpleplum Eyes Global Expansion and Capital Raise

Pat Crawley
Pat Crawley
37 Min Read
us-based-fintech-firm-purpleplum-eyes-global-expansion-and-capital-raise
US-based Fintech Firm Purpleplum Eyes Global Expansion and Capital Raise

Tuesday, 27/05/2025 | 19:18 GMT by Jared Kirui

  • The company is targeting financial institutions across North America, Latin America, Europe, and MENA.
  • It reportedly processed over $20 billion in transactions last year and now serves more than one million active users.

New York

Purpleplum, originally established in India, has officially restructured as a U.S.-based company in a bid for global scale, product innovation, and broader capital access.

According to the company, the move aims to align with growing demand from financial institutions across North America, Latin America, Europe, and MENA. With a modular, AI-enabled digital banking stack, Purpleplum plans to deepen its international footprint while preparing for a capital raise aimed at speeding up product development and expanding its local teams and partner ecosystem.

Scaling and Global Reach

The company has reportedly integrated with Zenus Bank, Tuum, and a growing network of banks. Zenus Bank reportedly leverages core banking technology from Tuum and digital front-end solutions from Purpleplum. The bank offers embedded accounts, virtual cards, and cross-border payments to financial institutions worldwide.

Purpleplum’s platform supports a range of use cases, from virtual IBANs and card issuance to omnichannel digital banking apps. Its technology reportedly processed more than $20 billion in transactions in 2024 and now supports over one million active users.

The company offers more than 70 modular components and 450 APIs, positioning it as a highly customizable platform for financial institutions of all sizes.

You may also find it interesting on FinanceMagnates.com: Following Robinhood Deal Announcement, Bitstamp Launches Ethereum, Cardano Staking in UK

“Transitioning to a U.S.-based company is more than a structural change; it’s a strategic move to meet the rising demand from financial institutions seeking next-generation digital infrastructure,” commented Kalyan Karteek, the Co-Founder of Purpleplum.

Kalyan Karteek, Source: LinkedIn

“This transformation enables us to attract strategic investors, scale our teams locally, and deepen our footprint across high-growth financial markets,” he explained.

Capital Raise Market Expansion

Purpleplum is now preparing to raise new funds to scale its onboarding capabilities, expand its regional teams, and enhance its partnerships with card issuers and core processors.

The upcoming investment round aims to reduce the friction financial institutions often face when launching new services, while helping Purpleplum add new capabilities to its modular banking stack.

To support its growth, Purpleplum has appointed fintech veteran Tigran Tovmasyan to lead sales and strategic partnerships across its key markets. Tovmasyan’s appointment is part of a broader effort to solidify the company’s leadership team as it accelerates into high-growth regions.

Purpleplum, originally established in India, has officially restructured as a U.S.-based company in a bid for global scale, product innovation, and broader capital access.

According to the company, the move aims to align with growing demand from financial institutions across North America, Latin America, Europe, and MENA. With a modular, AI-enabled digital banking stack, Purpleplum plans to deepen its international footprint while preparing for a capital raise aimed at speeding up product development and expanding its local teams and partner ecosystem.

Scaling and Global Reach

The company has reportedly integrated with Zenus Bank, Tuum, and a growing network of banks. Zenus Bank reportedly leverages core banking technology from Tuum and digital front-end solutions from Purpleplum. The bank offers embedded accounts, virtual cards, and cross-border payments to financial institutions worldwide.

Purpleplum’s platform supports a range of use cases, from virtual IBANs and card issuance to omnichannel digital banking apps. Its technology reportedly processed more than $20 billion in transactions in 2024 and now supports over one million active users.

The company offers more than 70 modular components and 450 APIs, positioning it as a highly customizable platform for financial institutions of all sizes.

You may also find it interesting on FinanceMagnates.com: Following Robinhood Deal Announcement, Bitstamp Launches Ethereum, Cardano Staking in UK

“Transitioning to a U.S.-based company is more than a structural change; it’s a strategic move to meet the rising demand from financial institutions seeking next-generation digital infrastructure,” commented Kalyan Karteek, the Co-Founder of Purpleplum.

Kalyan Karteek, Source: LinkedIn

“This transformation enables us to attract strategic investors, scale our teams locally, and deepen our footprint across high-growth financial markets,” he explained.

Capital Raise Market Expansion

Purpleplum is now preparing to raise new funds to scale its onboarding capabilities, expand its regional teams, and enhance its partnerships with card issuers and core processors.

The upcoming investment round aims to reduce the friction financial institutions often face when launching new services, while helping Purpleplum add new capabilities to its modular banking stack.

To support its growth, Purpleplum has appointed fintech veteran Tigran Tovmasyan to lead sales and strategic partnerships across its key markets. Tovmasyan’s appointment is part of a broader effort to solidify the company’s leadership team as it accelerates into high-growth regions.

Jared Kirui
  • 1960 Articles
  • 39 Followers

Jared is an experienced financial journalist passionate about all things forex and CFDs.

  • 1960 Articles
  • 39 Followers

Finance Magnates Daily Update

Get all the top financial news delivered straight to your inbox. Stay informed, stay ahead.

Keep Reading

More from the Author

FinTech

Beyond Aggregation: Building the Liquidity Infrastructure with B2CONNECT

Beyond Aggregation: Building the Liquidity Infrastructure with B2CONNECT

Beyond Aggregation: Building the Liquidity Infrastructure with B2CONNECT

Beyond Aggregation: Building the Liquidity Infrastructure with B2CONNECT

In this webinar, Nahum Greenberg, Product Manager of B2Connect at B2BROKER, presents B2Connect, a cryptonative liquidity hub. He discusses how it addresses challenges in fragmented liquidity and connectivity for both digital and traditional assets. The session includes a live demo of B2Connect’s features, like margin account management and its synthetics engine for custom trading instruments. Greenberg explains how B2Connect offers competitive advantages to liquidity providers and trading venues through enhanced liquidity and unique instrument offerings. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #CRM #Fintech #B2Broker #ForexCRM #CryptoCRM #TradingPlatforms #KYC #Onboarding #CustomerManagement Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

In this webinar, Nahum Greenberg, Product Manager of B2Connect at B2BROKER, presents B2Connect, a cryptonative liquidity hub. He discusses how it addresses challenges in fragmented liquidity and connectivity for both digital and traditional assets. The session includes a live demo of B2Connect’s features, like margin account management and its synthetics engine for custom trading instruments. Greenberg explains how B2Connect offers competitive advantages to liquidity providers and trading venues through enhanced liquidity and unique instrument offerings. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #CRM #Fintech #B2Broker #ForexCRM #CryptoCRM #TradingPlatforms #KYC #Onboarding #CustomerManagement Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

In this webinar, Nahum Greenberg, Product Manager of B2Connect at B2BROKER, presents B2Connect, a cryptonative liquidity hub. He discusses how it addresses challenges in fragmented liquidity and connectivity for both digital and traditional assets. The session includes a live demo of B2Connect’s features, like margin account management and its synthetics engine for custom trading instruments. Greenberg explains how B2Connect offers competitive advantages to liquidity providers and trading venues through enhanced liquidity and unique instrument offerings. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #CRM #Fintech #B2Broker #ForexCRM #CryptoCRM #TradingPlatforms #KYC #Onboarding #CustomerManagement Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

In this webinar, Nahum Greenberg, Product Manager of B2Connect at B2BROKER, presents B2Connect, a cryptonative liquidity hub. He discusses how it addresses challenges in fragmented liquidity and connectivity for both digital and traditional assets. The session includes a live demo of B2Connect’s features, like margin account management and its synthetics engine for custom trading instruments. Greenberg explains how B2Connect offers competitive advantages to liquidity providers and trading venues through enhanced liquidity and unique instrument offerings. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #CRM #Fintech #B2Broker #ForexCRM #CryptoCRM #TradingPlatforms #KYC #Onboarding #CustomerManagement Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

More Videos

  • Trading with XM: What You Need to Know | Full Review by Finance Magnates

    Trading with XM: What You Need to Know | Full Review by Finance Magnates

    Trading with XM: What You Need to Know | Full Review by Finance Magnates

    Trading with XM: What You Need to Know | Full Review by Finance Magnates

    Trading with XM: What You Need to Know | Full Review by Finance Magnates

    Trading with XM: What You Need to Know | Full Review by Finance Magnates

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

    In this video, we take a closer look at XM (@xmglobal ) a globally recognized online broker, serving over 15 million clients worldwide. We cover their trading model, account types, fees, and the different instruments available for trading. You’ll also learn about XM’s regulation, security, educational tools, and how their platforms work. Watch the full video to get a detailed review and find out if XM is right for your trading style. 👉 Don’t forget to check out the full XM Review Listing on the Finance Magnates Directory at: https://directory.financemagnates.com/forex-brokers/xmcom/ #XM #XMReview #Forex #FinanceMagnates #ForexBroker #forexreview #xmbrokerreview

  • Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

    Introducing iFX EXPO LATAM 2025

  • Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

    Crowd at iFX EXPO LATAM 2025

  • Maximising Broker Growth with B2CORE’s IB Module

    Maximising Broker Growth with B2CORE’s IB Module

    Maximising Broker Growth with B2CORE’s IB Module

    Maximising Broker Growth with B2CORE’s IB Module

    Maximising Broker Growth with B2CORE’s IB Module

    Maximising Broker Growth with B2CORE’s IB Module

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

    In this webinar recording, Morgan Williams, Product Director at B2Core, delivers a comprehensive overview of how B2Core’s IB module empowers brokers to build and scale their Introducing Broker (IB) programs. Discover how B2Core streamlines IB management, from efficient trader onboarding and automated commission tracking to providing IBs with powerful tools for growth. Morgan also addresses common challenges in scaling IB networks and showcases a real-world case study demonstrating B2Core’s impact. 📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates. Connect with us today: 🔗 LinkedIn: / financemagnates 👍 Facebook: / financemagnates 📸 Instagram: / financemagnates_official 🐦 X: https://x.com/financemagnates? 🎥 TikTok: https://www.tiktok.com/tag/financemag… ▶️ YouTube: / @financemagnates_official #B2Core #IBProgram #Brokerage #FinTech #PartnerProgram #AffiliateMarketing #FinancialServices Don’t miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!

You Might Also Like

The Future of B2B Payments: Will Blockchain Finally Solve Cross-Border Payment Inefficiencies?

eToro Shares Fall 12% After Debut Earnings Show Rising Costs and Compressed EBITDA Margins

eToro’s Q1 2025 Shows Strong User Growth and $14.8 B AUA Despite Profit Dip

eToro Trades at a Record Price: What Is Behind the Recent 10% Rally?

Revolut & Wero: Euro Wallet Wars Just Got Interesting

TAGGED:
Share This Article
Leave a comment

New Releases

- Advertisement -
Ad image

Trending Stories