Micronotes, a financial technology company that leverages big data, artificial intelligence, and consumer engagement technologies to boost deposits, loans, and retention for financial institutions, announced that it has closed a $2 million extension to its Series C funding round led by Experian Ventures. This additional investment was made by BankTech Ventures, LP (BTV), a venture capital firm specializing in investing in strategic technology companies serving the community banking industry.
BOSTON, Aug. 17, 2023 /PRNewswire-PRWeb/ -- Micronotes, a financial technology company that leverages big data, artificial intelligence, and consumer engagement technologies to boost deposits, loans, and retention for financial institutions, announced that it has closed a $2 million extension to its Series C funding round led by Experian Ventures. This additional investment was made by BankTech Ventures, LP (BTV), a venture capital firm specializing in investing in strategic technology companies serving the community banking industry.
BTV's $2 million investment is an extension to the $5.5 million investment led by Experian Ventures with participation from existing Micronotes investors, including TTV Capital, who led the Series B round of investment.
"Micronotes' strong penetration in the community banking space and disruptive potential in the digital banking sector align perfectly with our investment strategy," said Carey Ransom, Managing Partner at BankTech Ventures. "This investment reflects our conviction that Micronotes is positioned to become a game-changer in financial services."
"We're thrilled to partner with BankTech Ventures," said Devon Kinkead, Founder and CEO of Micronotes. "This strategic investment will help us accelerate our growth in the community banking sector and help more communities get a lot more out of their banking relationships."
"At Experian, we are committed to using data for good to help consumers improve their financial health," said Christa Degnan, Micronotes board member and head of strategy for Experian Consumer Information Services. "Our work with Micronotes.ai, and now BankTech Ventures and their limited partners, supports this commitment by bringing the transformative power of credit marketing to community financial institutions."
About Micronotes
Micronotes.ai delivers cloud-based big data, analytics, and digital engagement solutions to financial institutions that want to start conversations, develop relationships, and build trust with new and existing customers and members.
Founded by tech entrepreneurs from MIT, the company is privately held and based in Boston. https://micronotes.ai/
About BankTech Ventures, LP
Established in 2021, BankTech Ventures, LP is the first venture fund created for and by key leaders in community banking, bank technology and fintech. BTV serves the community banking ecosystem through strategic investments, education and collaboration with its limited partners and ICBA members by delivering a de-risked and/or fully vetted network of leading and emerging bank technology companies to enhance a community bank's value, as well as aim for strong returns from the underlying investments in these companies. Learn more at www.banktechventures.com.
Media Contact
Cynthia Laidlaw, Laidlaw Group, 1 617-423-2801, [email protected], https://laidlawgroup.com/
SOURCE Micronotes
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