6 SaaS Startups in the Banking Industry

January 24, 2023

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SaaS startups have become the darling of Venture Capital investors, especially in the Banking industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.

In this article, we are examining 6 VC funded SaaS startups in the Banking industry.

Argoid

The Autonomous Consumer Insights platform from Argoid enables businesses to contact consumers directly at the highest degree of efficacy. Using autonomous deep-learning neural networks that operate in real-time at petabyte scale, Argoid automates the data science of customer forecasts with outstanding accuracy and tremendous economy. We assist our clients in overcoming the limitations of conventional analytics and data science technologies to address important market issues like customer predictions, churn prevention, campaign effectiveness, smart recommendations, cross-sell & upsell, engagement process automation, and fraud prevention.

Company details:
Founders:
Gokul Muralidharan, Soundararajan Velu
Founded:
2019
Based in:
Palo Alto, California, United States
Website:
Argoid
Industries:
Artificial Intelligence, Banking, Big Data, Predictive Analytics, SaaS
Latest funding:
$1,700,000
Seed
24 February 2021
Total funding:
$1,700,000
Investors
YourNest Venture Capital, Turbostart, Team Launchpad

Mambu

The loan and deposit services are powered by Mambu, a supplier of banking software as a service. The firm offers services to build, implement, maintain, and expand the banking and lending portfolios of financial institutions of all sizes. More than eight million end users are served by its approximately 7,000 loan and deposit products. More than three million active accounts, from fintech to conventional banks, are present in more than 46 countries.

Company details:
Founders:
Eugene Danilkis, Frederik Pfisterer, Sofia Nunes
Founded:
2011
Based in:
Berlin, Berlin, Germany
Website:
Mambu
Industries:
Banking, Financial Services, FinTech, Lending, SaaS
Latest funding:
$265,401,173
Series E
9 December 2021
Total funding:
$448,322,143
Investors
Runa Capital, Tiger Global Management, EQT AB, Bessemer Venture Partners, TCV

Monit

Monit, a company owner's companion that links to any accounting platform, enables time-starved business owners to enhance their financial performance, more accurately forecast the future, and dynamically plan without ever touching another spreadsheet. Banks and other business partners that want to help their company clients prosper and get a better night's sleep are giving Monit out for free to SMBs.

Company details:
Founders:
Sean Collins, Stephen Dow
Founded:
2019
Based in:
Boston, Massachusetts, United States
Website:
Monit
Industries:
Banking, Financial Services, FinTech, Predictive Analytics, SaaS, Software
Latest funding:
$5,200,000
Seed
13 April 2021
Total funding:
$5,200,000
Investors
Correlation Ventures, MassChallenge, TTV Capital, Runway Venture Partners, Joe Proto

PayRecs

PayRecs is an international B2B payment platform designed to meet the unique needs of businesses and their banks. PayRecs delivers businesses the simplicity, transparency and speed of consumer payment apps but with a unique approach in order to meet the liquidity, security, and control requirements of businesses. PayRecs partners with regional banks to deliver our service to their customers, allowing the banks to add critical new international payment capabilities, reduce operational cost and risk, while also adding a new source of revenue.

Company details:
Founders:
Jon Dobson, Steve Habegger
Founded:
2017
Based in:
St Louis, Missouri, United States
Website:
PayRecs
Industries:
B2B, Banking, Financial Services, FinTech, SaaS
Latest funding:
$2,000,000
Seed
17 December 2021
Total funding:
$2,000,000
Investors
JAM FINTOP

Pluto

Pluto is a spend management platform enabling businesses to take control over their business spending through unlimited, smart corporate cards with spend controls, automated receipt collection and deep insights on spend data.

Company details:
Founders:
Mohammed Aziz, Mohammed Ridwan, Nayeem Zen
Founded:
2021
Based in:
San Francisco, California, United States
Website:
Pluto
Industries:
B2B, Banking, Financial Services, FinTech, Information Technology, SaaS, Software
Latest funding:
$6,000,000
Seed
3 February 2022
Total funding:
$6,000,000
Investors
Ramp, Global Founders Capital, Soma Capital, Verissimo Ventures, Graph Ventures

receeve GmbH

receeve is a fully customisable all-in-one platform for collections & recovery. We simplify the growing complexity of data and systems and empower in-house teams to easily automate processes, engage customers and apply 360° insights to maximise recovery and minimise risk across every stage of credit management - from pre-delinquency to portfolio assignment or sale. One platform. A perfect balance of ease-of-use and power, receeve’s cloud-native, no-code platform is fast to deploy, simple to manage and easy to customise and expand. Bring together intelligence, strategy and operations in one place. Hear from our CTO Michael Backes https://youtu.be/MK-Tmm9KMxo

Company details:
Founders:
Michael Backes, Paul Jozefak
Founded:
2019
Based in:
Hamburg, Hamburg, Germany
Website:
receeve GmbH
Industries:
Banking, Debt Collections, Financial Services, FinTech, Information Technology, SaaS, Software
Latest funding:
$4,509,201
Seed
7 December 2021
Total funding:
$23,603,713
Investors
Speedinvest, Seedcamp, Seaya Ventures, Mangrove Capital Partners, 14W

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