Apiture, the digital banking experience company has announced that the company has raised $20 million in funding to accelerate the development of transformative digital banking technologies.
The transaction includes investments by accounts and funds advised by T. Rowe Price Associates, Inc. and Pinnacle Bank. Apiture’s differentiated digital experience platforms: Apiture Xpress and Apiture Open, and its innovative solutions are being used by financial institutions of all sizes. Its products currently serve over 400 financial institutions within the United States market.
“Financial institutions are increasingly focused on effective customer engagement in a digital-centric and constantly evolving marketplace. Apiture’s mission is to put control back into the hands of financial institutions by providing the tools and resources they need to compete in a transformative market. This investment will allow us to accelerate that mission,” said Chris Babcock, Apiture’s CEO.
“As a customer of Apiture for more than a decade, we have seen firsthand their ability to partner with our firm for growth and commitment to creating an excellent client experience. This is an important investment for Pinnacle and an opportunity for us to help contribute to the future of digital banking technology. I am looking forward to joining the board to help enable continued growth at Apiture,” said Hugh Queener, a co-founder and chief administrative officer at Pinnacle Bank. Hugh Queener will also be joining the company’s board of directors.
“This additional capital underscores our continued investment in the Apiture Xpress platform, confirming our commitment to the hundreds of banks and credit unions we serve. The funding also supports our delivery and growth in Apiture Open, our API first, cloud-native digital banking product,” said Babcock.