NayaOne has acquired $4.7 million in funding in a spherical led by EJF Capital.
The corporate will use the funds to speed up its product roadmap and meet demand.
NayaOne presents a sandbox-as-a-service, the place banks can check new applied sciences, in addition to a fintech market, which serves as a community of vetted fintech options.
NayaOne, which simply stepped off the FinovateEurope stage this week, has acquired $4.7 million in funding for its sandbox-as-a-service platform and fintech market. The quantity of the corporate’s complete funds is undisclosed.
This funding spherical noticed contributions from EJF Capital, which led the spherical, in addition to from Valley Ventures and present investor Carthona Capital. NayaOne will use the funds to speed up its product roadmap and meet market demand by optimizing bank-fintech relationships.
When requested concerning the significance of right now’s funding spherical, NayaOne CEO Karan Jain mentioned, “It’s about extra than simply development; it’s about setting the tempo in a sector that’s essentially rethinking the way it evolves.”
NayaOne was based in 2019, simply earlier than the digital transformation wave that hit the business in 2020. The corporate’s sandbox-as-a-service platform serves as a single place for banks to entry lots of of fintechs and datasets with which they will innovate, construct, and check digital options rapidly and securely. Banks even have entry to NayaOne’s community of vetted fintech options which have been evaluated for high quality, safety, and compliance.
Offering banks with a single place the place they will entry fintechs and datasets helps them cut back the time it takes to undertake new applied sciences and options. It additionally reduces the dangers related to potential compliance, high quality, and safety points.
“We’re nonetheless within the early stage of a tech revolution in banking and capital markets, and NayaOne stands out because the crucial infrastructure enabling the following massive leap ahead,” mentioned EJF Ventures’ Michael Cherepnin.
There’s a narrative behind the U.Ok.-based firm’s title. The phrases Naya and One have been derived from historic knowledge. Naya signifies transformation and monetary innovation, whereas One represents the corporate’s foundational precept, which is: unparalleled connectivity with a single gateway to monetary know-how.
Photograph by Ostap Senyuk on Unsplash
