The Bank Slate


BaaS fintech raises funds from bank-led investor group

Infinant, a Charlotte, N.C., fintech, has raised capital in a financing round involving FINTOP Capital and JAM FINTOP BankTech.

Infinant said the funding will accelerate the product expansion and deployment of Interlace, a cloud-based platform that lets banks launch, scale and control Banking-as-a-Service (BaaS) and embedded programs.

The amount of funding wasn’t disclosed.

“Financial institutions are quickly evolving their last mile delivery by decoupling from the core and rebundling their products and services in ways that engage the customers when and where they need, which is often outside their bank’s application,” Riaz Syed, Infinant’s CEO, said in the release.

“In seeing the growing demand for a platform that puts the banks back in control, FINTOP’s and JAM FINTOP’s partnership will accelerate our ability to meet that demand,” Syed added.

JAM FINTOP is a joint venture between JAM Special Opportunity Ventures and FINTOP Capital that includes dozens of bank investors.

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