London-based fintech NayaOne has secured $4.7 million in a funding round led by EJF Capital, with participation from Valley Ventures, the corporate venture capital arm of Valley Bank, and Carthona Capital.
NayaOne’s platform provides banks with a single point of access to “hundreds” of fintechs, datasets, digital sandboxes and Fintech-as-a-Service offerings.
Using its platform, NayaOne claims that financial institutions can “swiftly navigate the fintech landscape, fostering partnerships that were once hindered by traditional, slow-moving processes”. It adds that as only 5% of banks choose to develop their technology in-house, its platform is of particular relevance in aiding bank-fintech partnerships.
The proceeds from this funding round will be used to fuel NayaOne’s growth, accelerate its product roadmap and meet market demand by streamlining vendor complexity and fostering innovation.
Dean Dorrell of Carthona Capital, reflecting on their early bet with this being their second round with NayaOne, added, “Watching NayaOne’s journey from an early-stage hopeful to a fintech trailblazer has been nothing short of inspiring. This round is a launchpad for what’s next.”
