US-based digital banking platform provider Alkami Technology yesterday achieved the initial close of a $140m funding round featuring financial services and investment group Fidelity.
D1 Capital Partners led the round, while Franklin Templeton and Stockbridge Investors also took part.
Alkami has built a cloud-based platform for banks and credit unions to offer personalised services to consumers and enterprise clients. It has grown to almost 10 million digital users under contract.
Mike Hansen, chief executive of Alkami, said: “We are proud to add world-class crossover investors to our strong existing investor base, supporting Alkami’s mission. We inspire and power the digital strategies of financial institutions as they seek to grow confidently and build thriving digital communities.
“Our clients are among the best performing and fastest-growing financial institutions in the country, in part due to the strength and velocity of our platform, solutions and ecosystem. Together we are creating and delivering winning digital solutions to our clients’ customers, members and businesses.”
Alkami had raised $225m as of its series E round, it said at the time, bringing its total financing today to $365m. The company completed its $55m series E round in June 2019 led by General Atlantic, with commitments from MissionOG, S3 Ventures and Argonaut Private Equity.
The same setup of investors had already supplied $70m in series D capital in early 2018, with S3 Ventures and Argonaut Private Equity participating as existing shareholders.
