Core10, a provider of banking technology integration services and banking and lending products, has secured $6.5m in a series B funding round.
The US-based company will use the capital to support the expansion of its Accrue platform and strengthen its banking technology and integration services.
The latest round brings its total funding to $12.5m since its inception in 2016.
Patriot Financial Partners led the latest round, with participation from JAM FINTOP and the Independent Community Bankers of America (ICBA).
The company’s flagship Accrue platform is a lending and onboarding application designed specifically for community banks and credit unions looking to accelerate digital strategies.
Core10’s API integration team also provide community financial institutions and fintechs with subscription and project-based solutions to “eliminate backlogs, reduce staffing costs and support business growth opportunities”, the company said.
Charles Potts, chief innovation officer and executive vice president at ICBA, commented: “Accrue creates efficient and affordable pathways to meet the customer’s growing demand for digital experiences. It does so in a manner that delivers convenience and speed to both customer and banker, making it an indispensable solution to have.”
Rodney Whitwell, principal of Patriot Financial Partners, added: “Accrue offers financial institutions incredible opportunities to innovate, generate additional revenue and effectively compete within the digital banking arena.
“We believe that Core10’s products, core banking expertise, streamlined integration capabilities and impressive implementation results will be instrumental in enabling the company to act as a leading provider of digital banking technology and solutions.”
Jeff Hanson, chief executive officer of Core10, said: “Each of these partners recognises and shares our commitment to helping community banks unleash their market potential and achieve their digital innovation goals.”