nCino, the fast-growing emerging company in Wilmington that aims to revolutionize banking, continues to be a fund-raising powerhouse.
According to a securities filing, nCino recently closed on $15.67 million in new equity financing.
Fifteen investors lined up to participate in the fund raise.
nCino has now raised some $65 million over five fundings since January of 2013.
All financings have been for equity.
nCino says it wants to revolutionize the banking industry by taking banks to the “cloud” for many functions and operations, is going global.
The startup has yet to say much about the financing.
However, in last year’s big $29 million funding round, Jeff Horing, managing director of Insight Venture Partners, joined the nCino board as part of the deal. He had this to say about nCino and its potential:
“nCino has progressed rapidly since inception and is entering the next stage of fulfilling its vision of becoming the undisputed leader in cloud-based banking,” Horing said in a statement. “nCino’s innovative Bank Operating System tracks a loan through its entire life cycle to increase efficiency and create new revenue opportunities for its financial institution customers. In our view, nCino represents the future of banking, and we are pleased to partner with a company we believe will continue to create significant value for many years to come.”
The nCino fund raise was one of several across the state disclosed in June.
Read the full list of filings at WRAL TechWire.
