PortX, a Seattle, WA-based company which specializes in integration and open banking for community financial institutions and fintechs, raised $16.5M in Series B funding.
The round was led by FUSE, and Curql, joined by BankTech Ventures, EJF Capital, and the Btech Consortium.
The company intends to use the funds to expand operations and its business reach.
Led by CEO David Wexler, PortX is an integration technology company focused on advancing an Integration Platform as a Service (iPaaS) that delivers open access to core data and enables rapid project delivery, innovation, and optimal customer experiences. Its solutions facilitate interoperability between internal systems and member services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of the customer. The company helps financial institutions to empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, Fedwire, Mojaloop, and others.
The company also announced a new subsidiary in the form of a CUSO due to the backing from the Curql Collective, which manages a strategic investment fund representing 68 credit unions and credit union industry partners.
FinSMEs
27/09/2023