CapitalG, the growth equity subsidiary of internet and technology group Alphabet, led a $40m series B round for US-based banking technology provider Mantl yesterday.
The round also featured D1 Capital Partners, BoxGroup, Point72 Ventures, Clocktower Technology Ventures and OldSlip Group.
Mantl has developed software used by banks and credit unions to onboard new digital banking customers.
The platform enables banking customers to open an account on any device while automating the application decision process. The capital will be used to expand Mantl’s product suite and hire new talent.
CapitalG partner Jesse Wedler said: “In addition to developing world-class technology, Mantl is also completely reimagining the technology vendor-customer relationship.
“They are far more than a vendor; instead, they are a trusted advisor who helps institutions successfully navigate rapid growth, digitisation and shifting consumer behaviours.”
The company said the series B round increased its total funding to $60.7m. It follows a $19m series A round featuring Point72 Ventures, Endicott Group. and Clocktower Technology Ventures that closed in July 2020.
Great Oaks Venture Capital, Sinai Ventures and Revolution’s Rise of the Rest Seed Fund also list Mantl as a portfolio company on their respective websites.