Cloud banking platform nCino has collected an undisclosed investment round led by Salesforce Ventures. Â
An unnamed nCino shareholder also took part in the funding round. Other previous investors in to the company include Insight Venture Partners and Wellington Management.
Founded in 2012, the North Carolina-based company is a cloud banking solution that integrates with financial institutions to remove manual processes. The technology combines CRM, deposit account opening, loan origination, workflow, enterprise content management, digital engagement and instant, real-time reporting to a single platform.
Alongside the funding, nCino now has more than 180 financial institutions across the world in its customer portfolio. This includes 10 of the top 30 US banks and Navy Federal.
This capital injection will enable nCino to further its growth initiatives and boost the development and innovation of its technology. The company’s bank operating system is built on the Salesforce platform and is also integrated with its cloud.
nCino CEO Pierre Naudé said, “We are successfully executing on that vision and empowering financial institutions around the globe to grow their business and better serve their customers. Our strong alignment with Salesforce has been a key factor in our growth and success.â€
Late last year, IBERIABANK partnered with nCino to help increase the speed and process efficiency across a range of business lines.
Earlier in the year, Salesforce Ventures took part in the $9.3m Series A funding round in to big data platform Zylo. The firm also made a selection of investments at the end of last year, contributing to FollowAnalytics $11m Series B and Onfido’s $30m investment round.
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