Apiture, a Wilmington, N.C., company that produces software for community banks, has raised $29 million in a fundraising round led by Live Oak Bancshares.
The company said in a Thursday press release that other investors, including Pinnacle Bank and BHG Financial, also participated. Apiture has raised $69 million since its formation in 2017.
Apiture said it will use the capital to expand its sales and marketing efforts, accelerate product development and meet increased market demand for the digital banking platform it launched in February.
Live Oak, Pinnacle and BHG are among the company’s clients.
“Our platform is built by bankers, for bankers, which uniquely positions Apiture to deliver best-in-class solutions that help financial institutions of all sizes level the playing field with national brands,” Chris Babcock, Apiture’s CEO, said in the release.
“We appreciate the confidence our existing investors have demonstrated in our business through this fundraising round,” Babcock added.