Volante Technologies, a cloud payments platform, has recently successfully closed a $66m investment round.
Spearheaded by Sixth Street Growth, the technology growth investing division of Sixth Street, this strategic round also saw contributions from Wavecrest Growth Partners and Wells Fargo Strategic Capital.
This funding surge is not the first for Volante Technologies. The company has previously garnered investments from notables such as BNY Mellon, Citi, Poste Italiane, and Visa Ventures. With the latest round included, the total external investment amassed by the company stands at a robust $116m.
Specializing in revolutionizing payment systems, Volante Technologies offers an agile on-ramp to payment innovation. Its service suite includes Payments as a Service and a versatile low-code payments platform, designed to overhaul and upgrade legacy financial infrastructure.
The new capital injection is earmarked for a bold agenda. Volante plans to accelerate its product development, with a focus on global real-time payments, the UK’s New Payments Architecture, and ISO 20022 modernization projects both at home and abroad. Additionally, the investment will enable Volante to expand its Payments as a Service offerings, particularly targeting mid-tier banks in the U.S. and Europe, a segment ripe for the adoption of cutting-edge payments technology due to emerging systems like FedNow™ Instant Payments and The Clearing House RTP®.
The accolades for Volante do not end with this funding round. The company has consistently led the IBS Intelligence annual Wholesale Payments League Table, a testament to its industry impact and the growing momentum behind its offerings.
Nari Ansari, Managing Director at Sixth Street Growth, extolled Volante’s strategic positioning, “Volante provides the fastest on-ramp to payments innovation for financial businesses seeking to modernize legacy systems, and Volante’s Payments as a Service and underlying low-code payments platform offers a compelling value proposition.” Ansari underlined the timeliness of the investment, noting the increasing focus on payments modernization and partnerships with FinTech firms.
Echoing the sentiment of support, Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners, reminisced about leading Volante’s first-ever growth capital funding round in 2020 and commended the company’s significant progress since then.
Vijay Oddiraju, CEO of Volante Technologies, welcomed the expertise of Sixth Street Growth. “This latest investment will further accelerate our product roadmap for our customers, particularly in global real-time payments, UK New Payments Architecture (NPA), and domestic and cross-border ISO 20022 modernization,” Oddiraju affirmed.
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