NCino, the leader in secure, cloud-based operating solutions to the financial services industry, has received a $10 million investment from Wellington Management Company LLP.
This latest investment will help accelerate nCino's growth into the community bank and credit union markets, and support an ongoing evolution of the company's bank operating system product to further advance commercial lending practices.
"nCino values this investment as validation to our position as the leader in cloud banking," added Pierre Naudé, CEO, nCino. "It is a privilege to enter into an investor relationship with a firm that enjoys the reputation and reach of Wellington Management. Its investment into our company enables us to continue innovating our product offering, provide even greater service and support to our customers, and go to market more quickly with new features that continue to meet the current and future needs of the financial services industry."
Headquartered in Boston, Wellington Management has approximately $834 billion in client assets under management as of Dec. 31, 2013, and serves as an investment advisor to more than 2,100 institutions located in over 50 countries.
nCino raised $9 million last spring in investment funding; former Morgan Stanley Chairman and CEO John Mack, Promontory Financial Group CEO Eugene Ludwig, and Live Oak Bank Chairman and CEO Chip Mahan were among the lead investors.