18 October 2017
visit www.response.ncr.com

NCino secures $29 million in series B financing

24 February 2015  |  2112 views  |  0 Source: nCino

nCino, the leader in secure, cloud-based operating solutions to the financial services industry, today announced the successful completion of $29 million in Series B financing. Led by Insight Venture Partners, the round also includes investments from existing investors Wellington Management Company LLP, former Morgan Stanley Chairman and CEO John Mack and Promontory Financial Group Founder and CEO Gene Ludwig.

This announcement follows the recent news of a record 2014 for nCino, highlighted by 206 percent revenue growth and the addition of more than 40 financial institutions to nCino’s rapidly growing customer base of banks and credit unions with assets ranging from $150 million to $200 billion. The proceeds from this round of funding will allow nCino to continue to expand operations domestically, as well as enter international markets; accelerate product innovation; further engage with large, enterprise banks; and grow its team with a key focus on product development and customer success.

“We appreciate the strong support of our existing and new investors in this round, who have demonstrated their confidence in our strategy and progressive approach to cloud-based banking,” said Pierre Naudé, CEO, nCino. “nCino is committed to transforming financial services through innovation, reputation and speed. With this latest infusion of capital, we are strongly positioned to continue delivering on that mission and become the dominant bank operating system solution.”

In addition, as part of today’s announcement, Jeff Horing, managing director, Insight Venture Partners, will be joining nCino’s board of directors.

“nCino has progressed rapidly since inception and is entering the next stage of fulfilling its vision of becoming the undisputed leader in cloud-based banking,” stated Horing. “nCino’s innovative Bank Operating System tracks a loan through its entire life cycle to increase efficiency and create new revenue opportunities for its financial institution customers. In our view, nCino represents the future of banking, and we are pleased to partner with a company we believe will continue to create significant value for many years to come.”

for many years to come.”

 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com Register now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15145 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8358 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7861 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7292 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6439 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job