SaaScada receives funding from TX Ventures to accelerate growth
SaaScada, the data-driven core banking platform, is delighted to announce a significant investment from TX Ventures, an early-stage Swiss-based Fintech VC investing in the next generation of Finance. Spurred by SaaScada’s success in the market over the last 12 months TX were keen to invest to accelerate growth of the 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 strong 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.
Co-founded by industry disruptors Nelson Wootton and Steve Round, SaaScada has taken a completely new approach to core banking by adopting the very latest 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 makes it possible for new entrants to build from the ground up whilst also enabling financial institutions with legacy systems to build new offerings to run alongside their existing core in a co-existence model. Over time, this approach also enables controlled migration of legacy business. Through open APIs, SaaScada’s core banking platform sits at the heart of best-of-breed ecosystems to drive innovation and exceptional customer experiences.
“We are super excited to have TX Ventures join us on this journey. Their investment further validates the platform, the product and the team as we continue to disrupt the core banking market by bringing innovative new solutions to long established challenges.” says Nelson Wootton, Co-Founder and CEO at SaaScada. “Until now price has been a barrier for those looking to innovate. We’ve reduced the cost of getting to market by removing the traditional product module architecture, simplifying the charging structure and making it easier to integrate with a wide range of ecosystem partners. Our success has resulted in us being approached by a number of investors but the shared focus on democratising access to financial products made TX Ventures the natural fit for us.”
Krzysztof Bialkowski, Managing Partner at TX Ventures comments: “We are thrilled to become part of the SaaScada success story. The team’s profound expertise, coupled with their data-centric approach, has not just impressed us, but truly inspired us. We both share the same values and the conviction that financial services should be made accessible to all. SaaScada is a perfect addition to our Fintech portfolio, and we look forward to a fruitful collaboration that will redefine the financial industry landscape.”
Steve Round Co-Founder of SaaScada comments, “For some time we’ve been quietly getting on with the business of building out data-rich offerings with some key early adopters. With keen interest from around the globe, we’re now eager to take our sustainable offering to a wider audience. SaaScada came from a place of financial inclusivity, so we’re driven by the desire to power feature-rich banking solutions for all. With this funding, we’ll accelerate that process one transaction at a time.”
SaaScada is a NextGen data-driven core banking engine built using cloud-native technology to deliver lightning-fast data speeds and flexibility. SaaScada’s unified product hub makes it easier, cheaper & faster to build a range of feature-rich products to deliver great customer outcomes via open APIs to the partner eco-system.
About TX Ventures
TX Ventures is an early-stage Fintech venture capital fund investing in the next generation of finance. Based in Zurich, TX Ventures is investing in Seed / Series A across Europe.