Narmi Raises $20.4M Series A for Community Bank Digital Tools

Narmi, which provides digital banking tools including online account opening and digital experiences for community banks and credit unions, announced a $20.4M Series A funding round. The round was led by New Enterprise Associates (NEA), a prominent venture capital firm. Narmi's platform helps smaller financial institutions compete with larger banks and neobanks by offering modern digital experiences to their customers.

The company's technology sits at the intersection of BaaS and bank-enablement, allowing traditional banks to digitize their offerings via APIs and white-label solutions. The funding is expected to accelerate product development and expand Narmi's footprint among community financial institutions across the US. The raise reflects growing investor interest in infrastructure that helps incumbent banks modernize and compete in an increasingly digital-first banking landscape.