Austin-based fisoc, Inc. has closed on a venture capital round with Greycroft Partners.
fisoc, founded in 2010, has more than 1,000 financial institutions as customers.
The company offers data analysis tools online so that banks and credit unions can offer rewards to their debit card customers enrolled in fisoc’s BuzzPoints program.
“We strongly believe that fisoc with their BuzzPoints Platform, product portfolio, management team, and a unique understanding of the intersection taking place between online financial services and social media will enable them to become a market leader,” Ellie Wheeler, Venture Capitalist at Greycroft Partners, said in a news release. “By combining financial services, social media and a rewards program for both bank customers and local merchants, fisoc is positioned to lead a transformation of the customer experience in the banking industry.”
Other investors participating in the financing round were Daylight Partners and angel investors. To date, fisoc has received more than $5 million in funding.