Eontec secures $25 million equity funding

Eontec secures $25 million equity funding

Dublin-based multi-channel banking technology vendor Eontec has secured a $25 million equity investment in second round funding.

The financing was led by IT venture capitalist firm Warburg Pincus, and also includes ICC Venture Capital and other existing Eontec shareholders. Warburg Pincus will also be involved in the company at a board and management level.

The company will use the capital to enhance and develop its client support infrastructure and professional services team, in a bid to accelerate the adoption and delivery of Eontec's EJB-based technology, BankFrame.

The investment will also allow for a series of sales and marketing programmes to support customer-focused initiatives, says Eontec.

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