Mantl bags $40m Series B to expand team, product suite

New York-based digital account opening firm Mantl has secured $40m in a Series B round led by Alphabet’s independent growth fund CapitalG.

Joining CapitalG in the round were D1 Capital Partners and BoxGroup as well as existing investors OldSlip Group, Clocktower Technology Ventures and Point72 Ventures.

Mantl claims it intends to use the recent funds to hire new talent and expand its product suite. Following the recent financing, Mantl has now raised a total of $60.7m in funding.

Established in 2016, Mantl is a FinTech business that provides regional and community banks as well as credit unions with an omnichannel platform to allow users to open accounts from any account, anywhere, at any time.

The company claims through its software, it has already optimised the consumer onboarding experience for community banks such as Midwest BankCentre, Quontic and Cross River Bank.

In July of last year, Mantl closed its Series A funding round and raised $19m.

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