Sandbox Banking, a FinTech building a low-code integration platform for banking, has raised $4.3m in seed funding.
The strategic investment was led by Horizon Ventures and saw participation from SixThirty, Tuesday Capital and Forum Ventures.
Using the company’s Glyue platform, banks and credit unions can accelerate digital transformation using pre-built API adapters and solution templates to securely connect existing systems with FinTech partners.
Sandbox Banking’s API builder platform already supports teams at over 70 financial institutions across the US & Canada, including Bank Newport, Silicon Valley Bank, United Bank, Choice Financial, and Service Credit Union.
With deeper integrations into some of the largest global FinTech companies on the 2023 roadmap, Sandbox Banking will use this capital to accelerate hiring for new product development and solution delivery capacity.
Sandbox Banking CEO Ravi Balasubramanian said, “The infrastructure and product framework needed to integrate core banking and fintech systems has historically been plagued with complaints of incompatible systems that generate lengthy integration timelines, lack of customization beyond cookie-cutter integrations, and lack of agile support for future changes based on user behaviour.
“Glyue makes this process seamless and more efficient than ever and will continue to power the next generation of integrated digital banking systems that are unlocking fintech for society. Horizon Ventures and Tuesday are two industry leaders in finding platform solutions that transform industries and we’re thrilled to have them on board as both investors and strategic advisors.”
Dreamscape, a real estate development and investment firm, has recently completed an $850m capital raise backed by financial giant Wells Fargo.
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