<ul><li>New Zealand fintech Emerge has raised $12 million in a Series A to build the country's first challenger bank.</li><li>The funding round was led by Altered Capital and included support from Icehouse Ventures, K1W1, NZ Fintech Fund, and US VC Hard Yaka.</li><li>Emerge plans to use the funds for marketing, sales, product hires, and to ramp up its business-focused go-to-market strategy, offering banking services for startups.</li><li>The app-based alternative has already launched business accounts, cards, and EmergePay, which turns a smartphone into a payment terminal.</li></ul>

Kiwi fintech Emerge cashes in NZ$12 million Series A for challenger bank plans

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