Digital Onboarding introduced a $58 million development spherical, boosting its whole funding to $62.6 million.
At the moment’s funds come from Boston-based non-public fairness agency Volition Capital.
Digital Onboarding will use immediately’s funding to speed up its product roadmap, enhance assist for present clients, drive consciousness in new markets, and enhance its headcount.
Digital Onboarding, a monetary providers onboarding service supplier, introduced a $58 million development funding immediately. The funds come from Boston-based non-public fairness agency Volition Capital and increase Digital Onboarding’s whole funding to $62.6 million.
Digital Onboarding will use immediately’s funding to speed up its product roadmap, enhance assist for present clients, and drive consciousness in new markets. The corporate additionally notes it plans to double its headcount by the top of this yr.
Digital Onboarding provides a SaaS device to assist banks take away friction through the onboarding course of. The corporate’s digital engagement platform helps monetary providers firms ship compelling providers that preserve clients round for the long-term. The corporate is particularly efficient in serving to inspire accountholders to take motion as a result of it aggregates information throughout banks with related enterprise targets.
“Banks and credit score unions are pushing additional into digital maturity, with many offering on-line banking and growing strong campaigns for buyer acquisition. Nevertheless, digital transformation typically stalls on the onboarding stage of the brand new buyer or member lifecycle,” mentioned Digital Onboarding CEO Ted Brown. “Monetary establishments have a major alternative to make enrolling in and establishing deposit, fee, and different providers easy and seamless. Making these as accessible and straightforward to finish as potential has a measurable optimistic influence on buyer retention and loyalty.”
Brown based Digital Onboarding, initially generally known as SalesBrief, in 2015, alongside along with his co-founder Jonathan Crossman. The corporate pivoted to the monetary providers realm in 2017 after taking part in a credit score union’s fintech accelerator.
Final November, East Cambridge Financial savings Financial institution chosen Digital Onboarding to extend its checking account activation charges, and Buckeye State CU tapped the Boston-based firm to raised inform its members and cross-sell product provides. Earlier in 2023, Digital Onboarding additionally signed Jack Henry, Legacy CU, and others.
At the moment’s announcement is a part of a wave of fintech funding that has surged prior to now couple of weeks.
Picture by Sigmund on Unsplash
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