CHARLOTTE – Finzly, a Charlotte-based bank technology company, has raised just more than $10 million from investors, according to a filing Tuesday with the Securities and Exchange Commission.
The money came from five investors, according to the filing. The primary investor is TZP Growth Equity, a fund run by the TZP Group private equity operation.
Finzly was founded in 2012 by Booshan Rengachari with the mission to create a modern banking experience. Prior to Finzly, Rengachari managed international technology at Well Fargo. He has also been a member of the the U.S. Faster Payment Task Force and a solution proposer to the Federal Reserve Bank.
Rengachari has been funding the company until now. The company’s clients include Synovus, Pacific Premier Bank, Fulton Bank and First Horizon Bank.
Finzly’s operating system simplifies back-office operations and the customer experience by consolidating all payment rails into a single platform, creating what it calls a “payments core.” It has been the first financial technology company to connect to FedNow, the new instant payment service introduced this year by the Federal Reserve.
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