Tag: banking

Malauzai Software Raises $6.48 Million

imgresMalauzai Software, which makes mobile apps for banks, announced it has received a $6.48 million in venture capital.

The Austin-based company received the Round C investment, led by Wellington Management Co., last week. The company, founded in 2010, has previously raised $5.3 million.

Malauzai has more than 260 banks and credit unions as customers. It reaches more than 300,000 consumers with its mobile banking apps. It has created mobile features such as “Picture Pay, Debit Card Management, 4-digit pin log-in and quick view of balance and transactions without the need to sign in.”

The company plans to use the investment to further develop its products, on marketing and sales.

“Our goal is to level the mobile banking playing field and arm community institutions with technology that meets, and often exceeds, the mobile features offered by the big banks,” Malauzai’s CEO Tom Shen said in a news release. “As mobile banking continues to grow in both usage and functionality, it’s vital that this market segment has the tools to compete. this most recent investment will allow us to drive those efforts even further.”

Q2ebanking Expands to Georgia

Austin-based Q2ebanking plans to open an office outside of Atlanta in August to serve its growing client base in the region.
The startup company provides electronic banking solutions to banks and credit unions nationwide.
“Expanding into the Atlanta area is a natural move for us and is a testament to the demand we are experiencing for electronic banking services,” Matt Flake, CEO and president of Q2ebanking, said in a news statement. “Atlanta is rapidly becoming an East Coast technology corridor and was recently ranked by the U.S. Census Bureau as one of the nation’s fastest growing cities. Having a presence there gives us access to some of the industry’s most well respected professionals and ensures that our clients continue to receive unprecedented support.”

fisoc Gets Venture Capital, Brings total to $5 Million

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.

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