Financial institution platform-as-a-service company Elsen has raised up to $930,000 in its latest fundraise, FinTech Global can reveal.
So far, the company has registered commitments from eight investors, according to the latest US Securities and Exchange Commission filing.
The company has a goal of $1.75m, but it is unclear whether this sum is a target or hard cap.
Elsen’s nPlatform allows users to manage large quantities of data to make better and quicker decisions to solve problems. nPlatform comes with thousands of pre-set cleaned, normalized, and aggregated datasets.
As the product was purpose-built for financial computation, no permanent code needs to be written by users.
The firm raised $400,000 in a seed investment in 2015, to help with expansion and hiring more staff.
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