Apiture announces $29m funding round
By Edlyn Cardoza
Apiture, a leading provider of digital banking solutions, announced the closing of a $29 million fundraising round led by Live Oak Bank, with participation from other existing investors. The investment brings the total funding raised by Apiture to $69 million since its inception in 2017.
The Company will use the additional capital to expand its sales and marketing efforts, accelerate product development initiatives, and meet increased market demand for the Apiture Digital Banking Platform, which serves more than 300 banks and credit unions throughout the United States.
“Our platform is built by bankers, for bankers, which uniquely positions Apiture to deliver best-in-class solutions that help financial institutions of all sizes level the playing field with national brands,” said Chris Babcock, CEO of Apiture. “We appreciate the confidence our existing investors have demonstrated in our business through this fundraising round. It is worth noting that two-thirds of the capital we have raised in this round has come from investors that are also Apiture clients, including Live Oak Bank, Pinnacle Bank, and BHG Financial. Their investment both underscores and reinforces the strength of Apiture’s solutions in a competitive market.”
“Financial institutions are keenly aware of the importance of digital channels and the need to elevate the online and mobile banking experience for their consumer and business customers,” said Stephanie Mann, Live Oak Bank Chief Strategy Officer. “We are thrilled to support Apiture as it accelerates enhancements to its cloud-based, API-first technology platform while scaling to serve a growing number of banks and credit unions.”
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