Payments Infrastructure Fintech Finzly Raises $10 Million Series A
Finzly, a fintech company providing payments infrastructure technology to banks, raised $10 million in a Series A round. The company was founded by a former Wells Fargo/Wachovia executive and focuses on modernizing how banks process and manage payments. Finzly's platform enables banks to offer real-time payments and other modern payment capabilities.
The funding is expected to accelerate the company's growth and product development efforts. The raise occurred during a period of active fintech M&A and investment activity in October 2023, when the payments industry saw nine deals in the month alone. The investment reflects ongoing demand from banks seeking to upgrade their payments infrastructure to remain competitive with fintech challengers.
- Continued investor confidence in fintech infrastructure that enables banks to modernize their payments stack
- Banks increasingly relying on third-party fintech providers for core payments capabilities rather than building in-house