TX Ventures invests in core banking platform SaaScada
By Gloria Methri
TX Ventures, an early-stage Swiss FinTech VC has invested an undisclosed sum in UK-based core banking platform SaaScada. Spurred by the company’s success in the market over the last 12 months TX said it was keen to help accelerate the growth of the NextGen core banking offering.
Co-founded by Nelson Wootton and Steve Round, SaaScada has taken a new approach to core banking by adopting the latest cloud-native architecture and data streaming to deliver a data-driven core banking solution for banks and FinTechs of all sizes.
The flexibility of the architecture makes it possible for new entrants to build from the ground up whilst also enabling financial institutions with legacy systems to build new offerings to run alongside their existing core in a co-existence model. Over time, this approach also enables controlled migration of legacy businesses.
“We are super excited to have TX Ventures join us on this journey. Their investment further validates the platform, the product, and the team as we continue to disrupt the core banking market by bringing innovative new solutions to long-established challenges,” said Nelson Wootton, Co-Founder and CEO at SaaScada. “Until now price has been a barrier for those looking to innovate. We have reduced the cost of getting to market by removing the traditional product module architecture, simplifying the charging structure, and making it easier to integrate with a wide range of ecosystem partners. Our success has resulted in us being approached by a few investors but the shared focus on democratising access to financial products made TX Ventures the natural fit for us.”
Krzysztof Bialkowski, Managing Partner at TX Ventures said “We are thrilled to become part of the SaaScada success story. The team’s profound expertise, coupled with their data-centric approach, has not just impressed us, but truly inspired us. We both share the same values and the conviction that financial services should be made accessible to all. SaaScada is a perfect addition to our FinTech portfolio, and we look forward to a fruitful collaboration that will redefine the financial industry landscape.”
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