Raises $8m seed round from Nyca Partners, Point72 Ventures and others.
NEW YORK and SINGAPORE, Dec. 4, 2023 /PRNewswire-PRWeb/ -- Necto is launching its multi-bank Premium API aggregator to power treasury, finance and payment platforms. Banks developed basic APIs for retail accounts, however complex corporate banking relationships can only be served by feature-rich "premium APIs". Necto's API aggregator homogenizes the various corporate bank API standards into a single, unified, secure, and easy to integrate format.
The average multi-national corporation maintains more than 20 banking relationships, which makes it difficult for corporate treasurers to gather real-time information on balances, transaction visibility, and payments. Necto enables an integrated system to synchronously look across all accounts at different banks, transforming how cash management decisions are made and leading to more efficient and safer treasury operations.‥
The company also announced an $8m seed round with participation from leading global enterprise fintech investors, including Nyca Partners, Point72 Ventures, Vine Ventures, Avenir Growth, Communitas Capital, Edison Partners and AFG Partners. Necto will use this investment to continue building out its roster of integrated Premium Bank APIs.
"Premium Banking APIs are transforming global payments and cash management operations, which have historically been supported through archaic financial messaging formats, such as file-based host to host connections" says Guido Schulz who joined the Company as CEO congruent to the financing earlier this year. "Necto is powering the next generation of treasury management applications and payment services providers with a global catalogue of APIs."
"Necto gave us the ability to provide real time liquidity management to our corporate customers," says Frederic Saunier, General Manager of Diapason, a leading treasury management system provider.
"Ubiquitous real-time payments mean corporate treasurers need synchronized real-time information, and Necto is the essential software for modernizing financial connectivity," states Hans Morris, Managing Partner of Nyca Partners. "We have very high expectations for Necto and are particularly confident to be part of such a strong roster of investors."
Founded in 2023, leveraging the technology of FinLync, Necto enables corporates, banks, treasury technology providers, ERPs and PSPs to evolve beyond antiquated financial messaging. The platform harnesses the power of next generation, API driven bank connectivity and harmonizes the data, enabling clients to have a holistic view of their real-time and future cash management positions as well as manage and initiate payments. Led by a team of proven fintech innovators, Necto's mission is to provide the rails for its partners and clients to transform how global treasury operates.
About Guido Schulz:
Guido Schulz, Necto's CEO, has spent more than 20 years in various executive roles across international payments and payments security. Previously, Guido held roles as CEO of Bento for Business (acq. by US Bank) and Chief Commercial and Strategy Officer of MerchantLink (acq. By Shift4).
SOURCE Lync Holdco Inc. DBA Necto