Texas based white-label mobile banking platform Alkami has raised a $70m Series D round led by General Atlantic.
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Alkami raises $70 million for mobile banking software
This adds to the over $46 million the company has raised since it was founded in 2009. Stephen Bohanon, founder of Alkami, started the business during the financial crisis when there “wasn’t a lot of innovation that was happening in the digital banking space.” Says Bohanon, there was an opportunity because “outside of the top roughly 20 banks, most everyone else relies on a third-party vendor to offer the solutions.” Alkami has a SaaS model, charging its clients based on the number of users per month. He says the company will be using the funding to invest in innovation and sales.
