Preczn, described as the leading financial services Command Center that specialises in vertical SaaS platforms, has proudly announced its latest successful funding round.
The company managed to secure a substantial $6.8m, with the funding round led by Flyover Capital and Blank Ventures. There was significant participation from other entities, including Grand Ventures, Gilgamesh Ventures, SaaS Ventures, Rosecliff Ventures, and Nelnet Ventures, among a few others.
As the FinTech sector burgeons, it is anticipated that transactions via vertical SaaS platforms will skyrocket to a staggering $5trn in 2023, potentially growing to $7trn by 2026 in the US market alone. Many vertical SaaS platforms have a golden chance to amplify their customer revenue fivefold by incorporating these financial solutions into their software. However, only a few have leveraged this prospect to its peak.
Preczn’s primary mission is to fortify these vertical SaaS platforms. Their unique solution allows these platforms to quickly deploy financial solutions without dedicating additional resources for development. Through a central hub, platforms can smoothly run their entire FinTech suite, optimising earnings and cutting down on the significant operational costs often linked with maintaining and building integrations.
With the fresh injection of funds, Preczn aims to bolster its already robust product and go-to-market teams. This capital influx will propel the company’s fast-paced growth, allowing it to refine its FinTech product delivery to vertical platforms even further.
Preczn’s edge in this domain is notably enhanced by its foundation team, teeming with exceptional FinTech and payment talents. They bring their expertise from renowned organisations like Payrix, Stax, Spreedly, WorldPay, PayPal, and more. Notably, Buildertrend, a foremost construction management platform, has selected Preczn as their partner in this journey.
Preczn CEO Malik Velani said, “We are thrilled to have the support of all our esteemed investors. This funding will propel Preczn forward in its mission to empower vertical SaaS platforms in unlocking the full potential of their fintech suites.”
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