SaaS financial industry platform Fivvy has received support from Globant Ventures, which includes a planned $4m investment over a two-year period.
The financial backing will help Fivvy bolster its market position in the Americas, as well as enhance its services. In addition to monetary support, the partnership will provide the FinTech company with expertise in leveraging new and emerging technologies.
Fivvy was built to help traditional and digital banking institutions offer personalised experiences to customers and apply unique data models to increase revenue. It claims to leapfrog its clients ahead of the competition through cutting-edge, data-driven models and tailored customer engagement strategies.
Through a streamlined implementation process, banks can become data driven and customer centric within three months.
Its features and services include secure transaction processing, automated analytics, real-time banking insights and in-depth financial planning. Through its technology, clients can offer their customers a 360-degree view of their finances and support their decision making.
In a joint statement, Fivvy founders Hanoi Morillo and Lucas Werthein said, “As a disruptor in the financial industry, we are focused on driving innovation by using data and the latest technologies to individualise customer experience.
“In our relationship with Globant Ventures, we don’t see just an investor but also a strategic partner in growing our business.”
Globant Ventures is the venture capital arm of Globant, an IT and software development company.
Globant Ventures managing partner Gustavo Martello said, “As the venture capital fund of a company focused on advancing reinvention across industries, we are excited about the Fivvy platform and its potential to bring true innovation to the financial sector, which is ripe for reinvention.”
Another FinTech SaaS platform to recently raise funds was SpendFlo. The company, which bagged $11m in its Series A, simplifies the buying, managing and renewing SaaS solutions for companies.
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