Apiture , a US-based provider of digital banking solutions, has announced the closing of a USD 29 million fundraising round led by Live Oak Bank , with participation from other existing investors. The investment brings the total funding raised by Apiture to USD 69 million since its inception in 2017.

Apiture will use the additional capital to expand its sales and marketing efforts, accelerate product development initiatives, and meet the market demand for the Apiture Digital Banking Platform, which serves more than 300 banks and credit unions throughout the US. Apiture has gained industry recognition following the introduction of the Apiture Digital Banking Platform in February 2022. Rather than maintaining its Apiture Xpress and Apiture Open platforms, the company has combined the strengths of both into one product, Apiture Digital Banking Platform, composed of five features its bank and credit union clients can brand and offer their customers.

The features of Apiture Digital Banking Platform Apiture now offers consumer banking with web and mobile user interfaces and business banking that enables business users to integrate these features with their consumer banking account. Besides, it lets consumers open and fund new accounts within minutes through a secure digital process. Their API banking enables institutions and fintechs to work with and connect APIs available in the Apiture developer portal.

Besides, with data gathered from clients, the Apiture analyst team can advise clients how to use that information optimally to improve marketing and avoid fraud. This unified platform uses the Finxact core as well as 40 others, so Apiture clients don’t have to disconnect from any systems they now use. Most of Apiture’s clients are financial institutions with assets under USD 10 billion: community banks and credit unions that choose to outsource their digital banking development and deployment rather than maintain an in-house team.