Finzly, a Charlotte, NC-based provider of payments infrastructure for financial companies, raised $10M in Series A funding.
The round saw participation from TZP Growth Equity. Shamit Mehta, TZP’s lead partner on the investment, will join Finzly’s board of directors.
The company intends to use the funds to accelerate its business expansion and to enhance its platform offerings.
Led by CEO Booshan Rengachari, Finzly enables banks along with fintechs and businesses to offer and access financial services in an open, connected, embedded and real-time ecosystem. At the core of this infrastructure is FinzlyOS, a cloud-based, API-enabled operating system that serves as a parallel platform to a bank’s core. With a range of banking solutions, including a multi-rail payment hub, foreign exchange, trade finance, compliance, and commercial banking experience components, Finzly enables the creation of programmable banks while also providing a Banking-as-a-Service platform to fintech partners and corporate customers via a single API connection to all payment networks.