Cloud-based digital banking solutions provider Alkami Technology has scored $140m in a funding round led by D1 Capital Partners.
Other participants included Fidelity Management & Research Company, Franklin Templeton and Stockbridge Investors. General Atlantic is also a backer of the business.
Earlier this month adoption of Alkami digital platform reached nearly 10 million digital users under contract, while the company also crossed over $130m of annual recurring revenue under contract by adding its 165th client.
The FinTech provides its services to over 130 financial institutions across the US and has more than six million registered users on the platform. The platform helps clients personalise their digital banking experiences for customers, removing all friction of the process.
D1 Capital Partners founder Daniel Sundheim said, “Based upon our deep research, we believe that Alkami is a clear industry leader in the digital banking space that has earned the trust of hundreds of financial institutions and millions of users.
“We have been impressed by the company’s uncompromising focus and bold investments and expect its innovation and leadership to continue.”
Goldman Sachs & Co served as sole placement agent in the funding round.#
Alkami closed its Series E round last year on $55m from General Atlantic, MissionOG and S3 Ventures.
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