Ascent Platform Corporation, a NYC-based provider of financial portability solutions for banks and credit unions, raised $5.3M in funding.
The round was led by Foundation Capital, TruStage Ventures Discovery Fund, Alloy Labs, Reseda Group, and other investors.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Arjun Sahgal, Ascent is a data platform that provides financial institutions with the tools and data sources required to service their customers. It merges open banking sources with data to create a holistic view of customers and enables institutions to deliver banking experiences. The company currently offers add-on modules that unlock value from loan origination and servicing systems. These configurable modules enable institutions to launch bespoke lending products quickly, automate loan monitoring and renewals, and eliminate wasted effort on internal and external audits.
Commenting on the news, Arjun Sahgal said: “We are grateful for their strategic guidance and support, as we grow our network of clients and partners who are equally committed to enhancing the competitiveness of community banks and credit unions.”
