Savana, a financial software for banks and fintechs, announced the closing of a $45 million Series A round led by Georgian, a growth-stage investor based in Toronto, Canada.
The funds will be “used to drive continued growth of Savana’s core-agnostic Digital Delivery Platform, ramp up its go-to-market activities, and accelerate its roadmap of new capabilities.”
Fiserv, a global provider of payments and financial services technology, participated in the investment round and will also “expand its existing reseller agreement with the company.”
Savana claims that it “delivers next-generation channel and product agnostic customer engagement, account servicing, and automated bank operations through the industry’s first and only Digital Delivery Platform.”
The Savana platform “works seamlessly with both new Gen3 and traditional cores to unlock universal digital delivery across all bank-assisted and consumer-direct channels.”
Michael Sanchez, Chairman and CEO of Savana, said:
“We’re thrilled to have the backing of Georgian and Fiserv as we look to redefine customer-first banking operations. The banking industry is going through an incredible transformation. This funding round will help support the growth of our digital delivery platform to enable any bank, whether new or going through transformation of existing technology infrastructure, to speed time to market of new products and services, support continuous digital innovation and drive significant operational efficiency.”
Whether launching a new bank or transforming an existing infrastructure, Savana’s API-first and cloud-native Digital Delivery Platform “orchestrates a bank’s technology ecosystem to eliminate silos and automate servicing for bank teams and customer-originated requests.”
Pre-configured, end-to-end process automation and integrations “enable faster time to market and drive frictionless, consistent experiences for customers across all channels.”
Emily Walsh, Lead Investor, Georgian, said:
“Savana’s leadership team has deep expertise in financial services technology and has built a unique solution that is set to transform banking. The banking industry needs Digital Delivery Platforms that easily integrate new and existing infrastructures and use the data from all systems seamlessly on any channel to delight customers in real time. Savana is the leading digital delivery platform for banks and we are proud to partner with them in this next phase of growth.”
As noted in the update, Savana unlocks next-generation, customer-centric banking operations “through the industry’s first and only digital delivery platform.”
Leveraging unmatched banking knowledge and expertise, Savana solves “the issues that arise during digital transformation or in creating and launching a new bank.”
Redefining customer-first operations, Savana claims it is “powering the future of banking.”
