Apiture, which claims to be a “leading” provider of digital banking solutions, announced the closing of a $29 million fundraising round which was led by Live Oak Bank, with participation from other existing investors.
The latest investment round “brings the total funding raised by Apiture to $69 million since its inception in 2017.”
Apiture 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.”
Chris Babcock, CEO at Apiture, said:
“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. 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.”
Stephanie Mann, Live Oak Bank Chief Strategy Officer, remarked:
“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. 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.”
Apiture has “gained significant industry recognition following the introduction of the Apiture Digital Banking Platform in February 2022.”
As mentioned in the update, Apiture delivers digital banking solutions “to banks and credit unions throughout the United States.”
Their flexible, “highly configurable” solutions meet “a wide range of financial institutions’ needs, from leveling the playing field with larger banks to enabling unique, digital-only brands.”
Through their API-first strategy, their clients can “maximize the capabilities of their platform while preserving a seamless user experience.”
Their focus on digital banking means they’re “dedicated to delivering innovative solutions that meet the unique needs of [their] clients while providing a level of support that’s unmatched in the industry.”
Apiture is “headquartered in Wilmington, North Carolina, with offices in Austin, Texas.”