Data driven digital banking company D3 Banking has raised $7 million in equity capital from Route 66 Ventures, LLC, a private investment firm providing funding to emerging financial services companies.
D3 Banking offers a single platform solution that provides regional and community financial institutions with a comprehensive set of data driven digital banking services for any computer, smartphone, tablet or other digital device. Route 66 Ventures, LLC is a private investment firm that provides venture capital, private equity and venture debt to emerging financial services companies.
“The time is right for us to accelerate the growth of our business with additional capital,” Mark Vipond, CEO of D3 Banking, said. “Our foundation rests on serving more than 225 financial institutions across the United States with digital financial management. Last year we introduced a comprehensive digital banking solution that provides customers and members with consistent services from any computer or digital device. The first customer deploying our new solution will go live in the next 30 days, and we are in competitive sales situations at a number of additional institutions.”
D3 Banking’s relationships with leading financial services companies are key to gain its momentum. The investment of capital by Route 66, combined with additional capital anticipated from partners and existing investors, enables D3 Banking to expand its sales and marketing team, invest in other product innovations and deploy a SaaS based solution for financial institutions that prefer the managed option to on premise deployment.
Pascal Bouvier, Partner at Route 66 Ventures in charge of early and late stage equity investments, added, “D3 Banking’s omnichannel capability disrupts a FinTech landscape littered with siloed solutions and cost inefficiencies while providing innovations in areas such as money movement, digital financial management and data analytics. This capital positions the company well now and into the future.”
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