San Diego-based investment firm West Partners has backed digital banking platform D3 Banking with a $10m investment.
D3 Banking said it will use the new capital to strengthen its team, invest in research and development and continue expanding its hosted platform to keep up with increasing market demand.
The company claims its platform can reduce the cost and complexity of digital banking by providing a scalable single code base solution for consumers and small businesses that can be accessed via laptop, smartphone, tablets and wearables.
West Partners president Dennis O’Brien said, “West Partners prides itself on only making investments in strong, well-run companies that show potential for long-term growth and success.
“D3 Banking’s commitment to replacing siloed, disparate channels with a consistent digital banking experience that uses data and analytics to provide Amazon-like financial services to the consumer makes this partnership an obvious choice.”
The investment firm looks to make investment ranging from $10m to $100m in companies with EBITDA of at least $2m.
Its current portfolio includes broadband provider eX2 Technology, video gaming terminal operator Lattner Entertainment, construction messaging provider NoteVault, and senior living provider Vitality, among others.
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