ZSuite Tech Raises $11M In Series A Funding

ZSuite Tech, a Westwood, MA-based financial technology company, raised $11M in Series A funding.

The round was led by Independent Community Bankers of America (ICBA) and BankTech Ventures.

The company intends to use the funds to accelerates growth, advance product development as they scale to meet demand for its unbound digital platform for commercial escrow, and subaccounting functions.

ZSuite Tech is a financial technology company that aims to power financial institutions with digital escrow products for specific commercial verticals that they can offer to their clients. Its products, ZRent and ZEscrow, streamline collection of recurring payments and automate the management and compliance around multi-use escrow and subaccounting processes.

Currently more than 40 banks nationwide use the company’s digital tools for commercial banking. ZSuite’s digital platform now supports approximately 41,000 accounts.