Savana, which develops financial software for banks and FinTechs, has collected $45m in its Series A funding round.
The round was led by Canadian investment firm Georgian.
With the funds, Savana plans to bolster its go-to-market activities, accelerate the development of its features and bolster its Digital Delivery Platform.
Speaking on the funding round, Savana chairman and CEO Michael Sanchez said, “The banking industry is going through an incredible transformation. This funding round will help support the growth of our digital delivery platform to enable any bank, whether new or going through transformation of existing infrastructure, to speed time to market of new products and services, support continuous digital innovation and drive significant operational efficiency.”
Its Digital Delivery Platform supplies channel and product agnostic engagement, account servicing and automated bank operations. Its system works with Gen3 and traditional cores to unlock universal digital delivery across all bank-assisted and consumer-direct channels.
The company’s API-first and cloud-native platform can help a bank remove silos and automate servicing for bank teams.
Georgian recently joined the $100m Series F round of security analytics platform Devo Technology. The investment valued Devo at $2bn.
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