21 February 2017
visit dh.com

Malauzai raises $6.5 million funding round

23 May 2014  |  2014 views  |  0 Source: Malauzai

Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, has received a $6.48 million Round C investment led by Wellington Management Company, LLP. Previously, Malauzai had raised around $5.3 million.

Malauzai currently supports more than 260 banks and credit unions, making advanced mobile functionality accessible to small and mid-sized community institutions. Through these institutions, SmartApps are leveraged by more than 300,000 consumers and businesses. The company has pioneered 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.

Malauzai will use the investment to continue to grow the organization and expand the functionality of its SmartApps. The company also plans to deploy more resources around marketing and sales efforts to improve market presence. In addition, Malauzai's clients will see the benefits of this latest round of funding as the company increases its efforts to help them drive mobile banking adoption among account holders.

"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," said Tom Shen, chief executive officer at Malauzai. "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."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit capgemini.com

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
16418 views 11 comments | 52 tweets | 85 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10227 views comments | 21 tweets | 19 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9930 views comments | 49 tweets | 57 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
9151 views comments | 17 tweets | 12 linkedin
hands typing furiouslyBlockchain - The Next Banking Blockbuster?
8046 views 0 | 12 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job