Volante Technologies has generated $35 million in growth equity financing from international investors, including Wavecrest Growth Partners, BNY Mellon, Citi Ventures, PostePay, and Visa.
The provider of cloud-based payments and financial messaging solutions received the capital raise as its first outside investment after almost 20 years of organic growth.
Volante will use the capital to further its global cloud expansion to reach new geographic regions, market segments, and industry verticals.
Vaibhav Nalwaya, co-founder and managing partner of Wavecrest, who will be joining the company’s board of directors, said: “We are thrilled to lead the first institutional investment in Volante and partner with its stellar team.”
“Volante has built an impeccable reputation as a fintech that can quickly enter and dominate new markets.”
“They have also rapidly emerged as the leader in cloud-based payments as a service. With cloud and digital transformation becoming ever more critical for organizations of all types, Volante is perfectly positioned to capitalise on this arc of success. We look forward to accelerating the company’s growth trajectory,” Nalwaya added.
Volante has collaborated with BNY Mellon for the past three years over the creation and deployment of real-time payment capabilities.
Saket Sharma, chief information and digital officer for BNY Mellon Treasury Services, commented: “We are excited to expand our strategic relationship by investing in Volante. This reinforces our commitment to helping our clients leverage best-in-class products and services in their own digital transformations.”
In addition, Citi’s treasury and trade solutions business has worked closely with Volante for several years across Citi’s core payments structure, while Volante has also worked with PostePay over instant payments for SEPA instant credit transfer.
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