Teslar Software, an automated workflow and portfolio management tool suite for community financial institutions, has bagged $2m in its seed round.
The investment was supported by the Independent Community Bankers of America (ICBA).
This comes after a period of strong growth for the FinTech startup which is set to double its revenue this year.
It also follows on from its participation in ICBA’s ThinkTECH Accelerator where it won the Banker’s Choice Award for most impactful Solution. The startup was one of eight companies to make the accelerator, down from a total of 200 applicants.
With the fresh funds, the company hopes to add staff to further its growth and maintain a high standard of customer support. It also plans to grow its client support, marketing and technology departments.
Its technology gives community financial institutions automated workflow and portfolio management tools which streamline and improve processes with the relevant information needed. Its technology stack integrates with existing siloed systems, centralizes data and boosts efficiencies, it claims.
Teslar CEO and founder Joe Ehrhardt said, “We provide the solutions necessary for community banks to operate more efficiently and effectively, while focusing on what matters most: exceptional customer service. This investment and ICBA’s support will provide resources to grow our team and continue advancing our technology, furthering our mission to help community bankers prosper.”
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