Infinant, a Charlotte, NC-based provider of a a cloud-based platform for banks to launch and scale banking-as-a-service and embedded programs, raised an undisclosed amount of funding.
The round was led by FINTOP Capital and partner JAM FINTOP BankTech.
The company intends to use the funds to accelerate the adoption of interlace platform for community banks.
Led by CEO Riaz Syed, Infinant works with banks to launch their as-a-service and embedded banking programs above-the-core, allowing banks to avoid complex core migration projects while giving the banks a cloud-native platform that can quickly scale to the volumes of customers, deposits and loans coming from their partners.
The platform also provides banks an alternative to traditional BaaS providers and the risks associated with outsourcing the tech stack, customers and compliance to third parties, giving banks full transparency into their customers and concentration of deposit types.
