Infinant raises $15m in Series A funding

Infinant provides a cloud-based platform, Interlace, for banks to launch and scale their digital and embedded programs under their own control. While many banks rely on monolithic core systems or outsource their ledger to a third-party, Infinant flips the model, giving banks operational and regulatory control of their programs on a bank-owned platform, allowing the bank to maintain complete control of the ledger, operations and compliance. The solution provides a disruptively low-cost model because we enable you to launch these initiatives without depending on your core provider or standing up a sidecar core.

"Financial institutions are realizing significant and responsible growth by diversifying their deposit gathering and payment channels by decoupling from the core and distributing their products across new platforms," said Riaz Syed, CEO of Infinant. "FINTOP's and JAM FINTOP's partnership is a strong market indicator of the solution fit for Infinant in the market and will allow us to continue to grow to meet the needs of financial institutions."

Infinant works with banks across business models that include launching digital banks into niche markets, embedding financial products and payments into business vertical applications, expanding merchant and ISO relationships through emerging payment and instant funding offerings, delivering new products to SMB and commercial customers via sub-accounting, and scaling of partner banking or banking-as-a-service programs.

"Since our initial investment, we have seen a dramatic shift in the market and the approach to embedded banking and banking-as-a-service which has confirmed the growth opportunity of these business models along with a regulatory requirement for banks to maintain oversight of the customers, accounts and the ledger," said John Philpott, Partner at FINTOP and a member of JAM FINTOP Banktech's investment committee. "Infinant is meeting this need to provide banks with a platform that allows them to scale their programs while aligning to the evolving regulatory landscape."

With this round, Infinant will continue to expand their product offerings that include the Interlace Console for customer and account management, Settlement Ops for ledger and reconciliation management, Payments Hub that offers centralized payments for ACH, Wire and FedNow, and their Card Platform that includes card issuance and processing directly to Visa DPS.