Technisys, a US-based digital banking software developer backed by semiconductor and data technology producer Intel, completed a $50m series C round on Tuesday led by private equity firm Riverwood Capital.
Founded in 1995, Technisys has developed software that leverages machine learning and artificial intelligence technology to help banks, financial technology providers and other financial institutions offer their customers digital services.
The company’s core cyberbank digital and cyberbank products are live in 15 countries and used by more than 50 customers including HSBC, Banco Falabella, Banco Macro and Diners Club. Technisys will use the series C proceeds to further develop its technology and expand its product portfolio.
Intel’s corporate venturing arm, Intel Capital, took part in the company’s $13m series B round in 2014, investing with Altas Venture, Kaszek Ventures, Endeavor Catalyst and Holdinvest Technology Fund. Holdinvest had already supplied $1m for Technisys in 2008.
Miguel Santos, founder and CEO of Technisys, said: “We are humbled by the trust our customers place in us, and excited by the massive global opportunity ahead to continually provide the building blocks necessary to win in this rapidly changing market.
“Banks will need to differentiate through their customer experience, offering a holistic service that is device agnostic, achieving the best time-to-market when launching new services and anticipating their customer needs.”