Savana, a financial technology company based in Malvern, has managed to raise a $45 million Series A funding round to further grow its digital capabilities and expand its overall operations, writes Rachel Ravina for the Philadelphia Business Journal.
The round was led by Toronto venture capital firm Georgian, which invests in startups to scale products. Fiserv, a fintech company specializing in mobile banking technology, was among the contributors. The company now plans on expanding its current reseller agreement with Savana.
Savana, which was founded in 2009, offers digital banking services using an application programming interface. Its software troubleshoots problems related to clients attempting to digitalize banking experiences. Savana also assists clients with accounts, operations, and engagement online.
“This funding round will help support the growth of our digital delivery platform to enable any bank, whether new or going through transformation of existing technology infrastructure, to speed time to market of new products and services, support continuous digital innovation, and drive significant operational efficiency,” said Savana CEO Michael Sanchez.
Furthermore, Savana had already raised $2.9 million in March 2020.
Read more about Savana in the Philadelphia Business Journals.
