Mantl, a NYC-based digital account opening solution for banks and credit unions, raised $40m in Series B funding, bringing total funding to $60.7m.
The round was led by Alphabet’s independent growth fund, CapitalG, with participation from D1 Capital Partners, BoxGroup and existing investors Point72 Ventures, Clocktower Technology Ventures and OldSlip Group.
The company intends to use the funds to hire new talent and expand its product suite.
Led by Nathaniel Harley, Co-founder and CEO, Mantl is a fintech company that provides regional and community banks and credit unions with an omni-channel platform to enable people to open accounts from anywhere, on any device and at any time.
Alphabet s CapitalG leads $40 million round in fintech Mantl yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Alphabet’s CapitalG leads $40 million round in fintech Mantl
Community banks and credit unions aim to be the heart of the, well, communities, they serve. But without the big budgets of larger institutions, keeping up technology-wise can be a challenge. And not only are they competing with legacy players, there is also a slew of digital banks that have emerged in recent years, as well.
Enter MANTL, a startup that has developed technology to make it easier for people to open accounts digitally at community banks and credit unions so that those institutions can increase deposits and ultimately, profits. Founded in 2016, New York-based Mantl has been described by some as “the Shopify of account opening.”
Digital Account Opening Solution For Banks & Credit Unions MANTL Secures $40 Million Through Series B Investment Round
MANTL, a U.S.-based digital account opening solution for banks and credit unions, announced on Tuesday it raised $40 million through its Series B funding round, which was led by Alphabet’s independent growth fund, CapitalG, with participation from D1 Capital Partners, BoxGroup and existing investors Point72 Ventures, Clocktower Technology Ventures, and OldSlip Group. The company previously raised $8 million through its Series A funding round, led by Point72 Ventures.
Founded in 2016, MANTL stated it offers the best Bank Account Opening software for banks and credit unions.
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