ICBA invests in Teslar Software for community banks
Teslar Software by 3E, designed to help community banks compete in the digital age, has attracted investment from the Independent Community Bankers of America (ICBA), reports Jane Connolly.
ICBA’s undisclosed investment brings Teslar’s total seed capital raised to $2 million. The Arkansas-based fintech will use the funding to increase its client support, marketing and technology development staff.
Teslar was one of just eight early-stage companies from a field of nearly 200 to win a place on ICBA’s ThinkTECH accelerator programme, where it won the Banker’s Choice Award for Most Impactful Solution.
Designed to streamline processes, enhance efficiency and improve community banks’ operations with better data, the platform integrates siloed systems and centralises information.
“We were impressed with Teslar’s banking background and their platform’s capabilities to aid community bank business processes and data requirements during the accelerator programme,” says ICBA services network chief operating officer, Kevin Tweddle.
Joe Ehrhardt, CEO and founder of Teslar, adds: “We provide the solutions necessary for community banks to operate more efficiently and effectively, while focusing on what matters most: exceptional customer service. This investment and ICBA’s support will provide resources to grow our team and continue advancing our technology, furthering our mission to help community bankers prosper.”
Teslar is on course to double its revenue this year and is looking to support this growth with extra staff.