UK-based core banking platform provider SaaScada has announced a £2.5 million seed funding round.
The investment comes from more than ten companies, including organisations from the banking and private investment sectors.
The company says that its cloud native platform enables FinTechs and challenger banks to launch new features and products in minutes, rather than months.
The business said it would use the money to accelerate growth and expand the company’s footprint in the banking sector.
“We have been flying under the radar until now,” said Steve Round, co-founder of SaaScada. “We are now delivering to customers and proven to be robust, scalable and reliable.
“We have a sweet spot in a section of the banking market that has traditionally been excluded from developing best-in-class solutions, those organisations with a balance sheet size of £0.5 – £4 billion, which is where we can add significant value. With this £2.5m funding we can continue to build our engine, our partner networks, and our footprint and take ownership of this market.”
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