Cloud-native core banking engine SaaScada has received significant funding from TX Ventures to accelerate growth of its NextGen core banking offering. With the expansion of SaaScada’s sales and marketing functions following investment in 2022, SaaScada’s data-driven core banking brand has been growing in the European market with fintechs and banks seeking to swiftly launch and scale using a proven, affordable SaaS banking solution.

The growing brand has also seen keen interest from further afield and is making inroads into the MENA and APAC regions. Transforming core banking with modern cloud solutions and data streaming SaaScada’s new approach to core banking consists of adopting a modern cloud-native architecture and data streaming to deliver a truly data-driven core banking solution for banks and fintechs of all sizes. The flexibility of the architecture allows new entrants to build from the ground up whilst also enabling financial institutions with legacy systems to build new offerings to run alongside their active core in a co-existence model.

Over time, this approach enables a controlled migration of legacy business. Through open APIs, SaaScada’s platform delivers innovation and augmented customer experiences. Commenting on the news, the SaaScada team said they are happy to have TX Ventures join them on this journey.

Their investment further validates their activity as they continue to disrupt the core banking market by bringing innovative new solutions to long established challenges. Until now price has hindered those looking to innovate. They’ve reduced the cost of getting to market by removing the traditional product module architecture, simplifying the charging structure and facilitating the integration with a wide range of ecosystem partners.

Speaking on what has drawn them to make this investment, officials from TX Ventures said they are happy to become part of the SaaScada story. The team’s profound expertise, coupled with their data-centric approach has captivated their interest. The two companies share the same values and the conviction that financial services should be made accessible to all.

SaaScada is a suited addition to their fintech portfolio, and they look forward to a fruitful collaboration that will redefine the financial industry landscape. What does SaaScada do? SaaScada is a NextGen data-driven core banking engine built using cloud-native technology to deliver lightning-fast data speeds and flexibility. Their unified product hub makes it easier, cheaper, and faster to build a range of feature-rich products to deliver heightened customer outcomes via open APIs to the partner ecosystem.

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