Finzly, a payment infrastructure provider, has closed a series A funding round, securing an investment of $10m with TZP Growth Equity.
The financial boost will be used to propel Finzly’s expansion and bolster its investment in its product roadmap. The goal is to meet the ever-increasing demands of financial institutions in their pursuit of digital transformation.
Headquartered in the North Carolina, US, Finzly provides payment infrastructure for domestic and international transactions. The company boasts the distinction of being the first to offer an API connection to FedNow, the new instant payment service introduced this year by the Federal Reserve.
Booshan Rengachari, the chief executive officer and founder of Finzly, said: “Throughout Finzly’s history, we have carefully invested in disciplined and organic future growth by developing products and solutions that deliver value to our customers by simplifying their operations.
“This capital raise will enable us to further invest, to maintain our high customer satisfaction rate.”
Shamit Mehta, TZP’s lead partner on the investment, who will join Finzly’s board of directors, commented: “We envision Finzly as a catalyst in the transition towards more agile and customer-centric banking experiences.
“Finzly is well-positioned to drive significant advancements in how banking and financial services operate and will become a category-defining company.”