US-based Core10 closes Series B to support digital transformation


US-based Core10, which offers lending and account opening products, has raised $6.5m in its Series B funding round.

Patriot Financial Partners, a US-based private equity investment firm, served as the lead investor. Contributions also came from JAM FINTOP and the Independent Community Bankers of America (ICBA).

With the capital, Core10 will expand its Accrue platform and banking integration services.

Core10 offers banking technology integration services, as well as banking and lending products. Its Accrue solution offers digital account opening, digital lending and core/FinTech connectivity to help accelerate digital transformation strategies in community banks.

ICBA executive vice president and chief innovation officer Charles Potts said, “Accrue offers an efficient and affordable pathway for community banks responding to growing demand for digital experiences that deliver convenience and speed.

“We believe Core10 is at the forefront of technology companies that are fuelling the success of community banks’ digital transformation strategies and are pleased to be part of their innovation journey.

With the fresh investment, Core10 has raised a total of $12.5m in funding.

Core10 CEO Jeff Hanson added, “Accrue allows us to deliver on the services that community FI’s are looking to offer to their customers and members. Not only does Accrue support much of the digital commercial and retail banking experiences, but it also enables a community FI to remain relevant and competitive. Core10 is excited to see how this investment will help sustain and strengthen our growth throughout 2023 and years to come.”

It has been a busy time for marketplace lending companies. Earlier this week, a Colombian FinTech company raised $27m in funding to support its growth in Brazil. The company aims to create a scalable credit system for companies.

Meanwhile, India’s Bike Bazaar netted $21m for its ongoing Series D funding round. Founded in 2017, the company offers financing options for two-wheel vehicles.

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