Volante Technologies, the global cloud payments and financial messaging platform, has announced it received USD 10M in growth funding from Wells Fargo Strategic Capital, bringing the total institutional investment to date to USD 45M.
“While innovation has accelerated in customer-facing fintech applications, legacy core payments infrastructure has been slower to adopt new technologies due to its complex messaging standards and mission-critical environments,” said Basil Darwish, managing director for Wells Fargo Strategic Capital. “Volante solved such challenges by offering a modern cloud-native payments platform that minimizes the complexity while accelerating its customers’ payments modernization efforts. We are excited to invest in Volante and join the next phase of its development.”
“We are excited to continue our partnership with Volante with this investment and we look forward to seeing how Volante will continue to innovate and advance their payment capabilities,” said Jason Christensen, head of payments and treasury technology, Wells Fargo.
“We’re setting a high bar for excellence – one that improves and elevates the entire industry,” said Vijay Oddiraju, CEO, Volante Technologies. “If banks can launch payment products in months versus years, then that’s a win for everyone. Beyond digital banks and financial institutions, we also want to bring the value of our solutions directly to business and consumer brands.”
“But it’s about more than innovation and automation,” he continued. “As a global citizen, I’m also driven by the ethical imperatives of an industry that manages finances in an age of great global inequality. It’s my concern for the next generation that leads me to believe that our products need to help end users achieve a better life. As a customer and an investor, Wells Fargo will further help us on this journey.”
Vaibhav Nalwaya, Managing Partner, Wavecrest Growth Partners, said, “Volante has cemented itself as the cloud payments operating system. Tier one banks, regional banks, and credit unions can forget about their multi-year transformation journeys. With Volante, they can update their connectivity to a new payments rail or comply with a new standard delivered over the cloud in a manner similar to how consumers update apps on their phones. Wavecrest is proud to support the Volante journey alongside an ensemble cast of strategic investors.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.