Sila, an API platform that provides payment infrastructure as a service, announced $13M in Series A funding led by Revolution Ventures, bringing total funding to over $20M.

Existing investors, Madrona Venture Group, Oregon Venture Fund, and Mucker Capital, and angels including Taavet Hinrikus, Co-founder and Chairman of Wise, also participated in the round.

Launched in 2018, Sila enables software developers to incorporate regulatory compliant payment capabilities quickly and easily into their products. Sila's banking APIs replace the need for integrating with legacy financial institutions, saving customers months of development time and thousands in legal and regulatory expenses.