Digital banking tech firm Apiture lands $29m funding
North Carolina-based Apiture, a provider of digital banking solutions, has closed a $29 million funding round led by Live Oak Bank, with participation from existing investors.
The investment brings the company’s total funding raised since its inception in 2017 to $69 million.
Apiture says it will use the additional capital to expand its sales and marketing efforts, accelerate product development initiatives and meet increased market demand for its digital banking platform, which it claims serves more than 300 banks and credit unions throughout the US.
Chris Babcock, CEO of Apiture, says his firm’s platform helps “financial institutions of all sizes level the playing field with national brands”.
“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,” he adds.
In December last year, Apiture was selected to upgrade First State Bank of Saint Charles’ online and mobile banking offering for consumer and business customers.