- Apiture introduced an funding of $29 million to assist the corporate meet demand for its digital banking platform. The spherical was led by Stay Oak Financial institution.
- The platform, unveiled earlier this 12 months, mixed Apiture’s Xpress and Open merchandise right into a single, API-based resolution.
- Apiture’s whole funding now stands at $69 million.
Digital banking options supplier Apiture has raised $29 million in new funding in a spherical led by Stay Oak Financial institution. The corporate will use the capital to spice up gross sales and advertising, speed up product improvement plans, and assist meet demand for its flagship resolution, the Apiture Digital Banking Platform.
“Our platform is constructed by bankers, for bankers, which uniquely positions Apiture to ship best-in-class options that assist monetary establishments of all sizes stage the enjoying subject with nationwide manufacturers,” Apiture CEO Chris Babcock mentioned. He added that a lot of the capital raised on this newest spherical has “come from buyers which are additionally Apiture purchasers” and highlighted Stay Oak Financial institution, which led the spherical, in addition to Pinnacle Financial institution and BHF Monetary.
The funding brings Apiture’s whole capital raised to $69 million.
Based in 2017 and headquartered in Wilmington, North Carolina, Apiture presents a digital banking platform that’s safe, dependable, and core agnostic with greater than 40 core integrations. Launched in February of this 12 months, the platform consolidates Apiture’s present merchandise – Apiture Xpress and Apiture Open – right into a singular resolution. The platform leverages partnerships with greater than 200 fintechs to assist banks and credit score unions entry the know-how they want as a way to create the type of digital experiences which are most applicable for his or her prospects and members. Greater than 300 banks and credit score unions within the U.S. use Apiture’s digital banking platform.
“Monetary establishments are keenly conscious of the significance of digital channels and the necessity to elevate the onilne and cell banking expertise for his or her shopper and enterprise prospects,” Stay Oak Financial institution Chief Technique Officer Stephanie Mann mentioned. “We’re thrilled to assist Apiture because it accelerates enrichments to its cloud-based, API-first know-how platform whereas scaling to serve a rising variety of banks and credit score unions.”
This 12 months, Apiture has cast partnerships with Ephrata Nationwide Financial institution and Martha’s Winery Financial institution, each of which can deploy Apiture’s Digital Banking Platform to energy each their on-line and cell banking options. With property of $1.6 billion, Ephrata Nationwide Financial institution is headquartered in Lancaster, Pennsylvania, and has served communities within the space since 1881. Martha’s Winery Financial institution, based mostly in Edgartown, Massachusetts, has property of greater than $1.9 billion and operates 10 areas on Martha’s Winery and in Falmouth, Massachusetts.
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