PORTLAND — One of Portland’s most prominent entrepreneurs has raised $7.7 million for his next company, a financial payments enabler called Sila.
Shamir Karkal co-founded Portland online banker Simple and served as its chief financial officer before leaving that company in 2015. Sila, founded in 2018, makes software designed to give software developers tools to manage money transfers, payment processing and other banking services.
Sila announced Wednesday that it has completed its first major funding round, led by the Seattle firm Madrona Venture Group and by the Oregon Venture Fund. The company said its technology will provide alternatives to payment and transfer services now controlled by established banks.
“Our mission is to unite all the payment systems in one programmable layer to spur the next phase of financial innovation,” Karkal said in Wednesday’s announcement.
Sila employs 14, all but one working in WeWork’s downtown Portland coworking site.
