Digital banking provider positioned for omnichannel growth;
plans to strengthen team, invest in R&D, introduce SaaS platform
OMAHA, Neb. Oct. 24, 2014 – D3 Banking, the leader in Data Driven DigitalTM banking, announced today that it raised $7 million in equity capital from Route 66 Ventures, LLC. 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.
Mark Vipond, CEO of D3 Banking, said, “The time is right for us to accelerate the growth of our business with additional capital. 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, said, “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.”
About Route 66 Ventures
Route 66 Ventures is a private investment firm that focuses on high-growth opportunities at all stages of a company's lifecycle. Route 66 is interested in various sectors of the financial services industry, including asset management, lending, capital markets, insurance, payments services and business services. Route 66 also considers opportunities outside of financial services, including project finance, structured finance, and real estate, when an especially compelling value proposition exists. Visit the firm online at www.route66ventures.com.
About D3 Banking
D3 Banking reduces the cost and complexity of digital banking by providing an omnichannel platform that can be accessed via laptop, smartphone, or tablets. The company provides responsive web design in a transactional environment to deliver a consistent user experience anytime, anywhere, on any device. Its Data Driven Digital™ banking leverages a powerful analytics engine that allows financial institutions to personalize their product and service offerings for each unique customer. More than 225 institutions in the United States use products and solutions from D3 Banking. Learn more about the company at www.d3banking.com.
|Date:||October 24th, 2014|
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