NayaOne Completes New Funding Round, Raises $4.7 Million

A company called NayaOne, which helps match fintechs with financial institutions, recently completed a funding round that managed to raise $4.7 million, according to a recent report.

Major VCs supported the round

The firm, which operates as a Sandbox-as-a-Service platform, saw the participation of some major names among VCs. The round was led by EJF Capital, followed by the likes of Carhona Capital and Valley Bank’s corporate venture capital arm, Valley Ventures.

Valley Bank’s participation does not come as a surprise, given that this was the first financial institution in the US to adopt NayaOne’s technology. Said technology comprises a sandbox that allows the firm’s clients to test innovative new technologies. Soon after that, many other vetted fintechs and financial institutions joined up in order to do the same.

Neal Kapur, Valley Ventures’ managing partner, commented by saying that Valley Ventures’ collaboration with NayaOne has dramatically streamlined how the company vetted fintech vendors. As a result, Valley Bank was positioned well ahead in the digital transformation and AI race.

Meanwhile, NayaOne’s CEO, Karan Jain, stated that the funding round is a nod to the opportunity and magnitude of the challenges the company is trying to tackle in the financial services sector. Jain, formerly of Westpac, added that more banks are seeking to catch up on the digital transformation journey, now that partnerships with fintechs have proven to be extremely beneficial to them.

He added: “It’s about more than just growth; it’s about setting the pace in a sector that’s fundamentally rethinking how it evolves.”

NayaOne’s tech revolutionized financial institutions’ approach to fintech

In its report, NayaOne called the funding round “a significant move for fintech.” The firm has a proven platform that enables a radical reduction in tech adoption cycles in the finance sector. Thanks to its technology, financial institutions were able to swiftly navigate the fintech landscape. They were able to foster partnerships and build new relationships that were previously hindered by a slow-moving process which, while more traditional, was not beneficial.

Commenting on the round, EJF Ventures’ Michael Cherepnin said: “We’re still in the early stage of a tech revolution in banking and capital markets, and NayaOne stands out as the critical infrastructure enabling the next big leap forward.”

Meanwhile, Carthona Capital’s Dean Dorrell, pointed out that this was the company’s second round with NayaOne. He said that Carthona Capital watched NayaOne’s journey from an early stage, and that watching it grow and mature into what it is now was “nothing short of inspiring.” He also added that the round will serve as a launchpad for what comes next.

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