Ario raises $10 mln from OMERS-backed Purpose Financial

Ario, an Ottawa-based digital banking platform built for enterprises, has secured a $10 million investment. The source of the financing was Purpose Financial LP, a Canadian financial services firm led by CEO Som Seif and backed by OMERS Platform Investments. Founded last year and led by CEO Avinash Chidambaram, Ario helps enterprise partners provide their customers with automated, contextual and real-time financial solutions managed through machine learning systems. The investment's proceeds will allow the company to further develop and launch its solutions.

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