Cloud payments modernisation fintech, Volante Technologies, has secured $66m in debt and equity financing. The investment round was led by Sixth Street Growth, the technology growth investing arm of Sixth Street. Other participants include Wavecrest Growth Partners and Wells Fargo Strategic Capital.
The latest round follows earlier funding including repeat participation from Wavecrest and Wells Fargo Strategic Capital and investment from BNY Mellon, Citi, Poste Italiane, and Visa Ventures.
The latest funding brings total outside investment in the company to $116m.
Nari Ansari, Managing Director at Sixth Street Growth, said: “Volante provides the fastest on-ramp to payments innovation for financial businesses seeking to modernise legacy systems. Volante’s Payments as a Service and underlying low-code payments platform offers a compelling value proposition.
With financial institutions increasingly prioritising both investment in payments modernisation and partnerships with fintech companies, this is an ideal time to expand Volante’s reach.
Volante Technologies: ‘clear advantage over legacy providers’
“We are investing in Volante because we are confident they have a clear advantage over legacy providers and challengers and are best positioned to capitalise on the growth opportunity and further outpace their competitors.”
Vaibhav Nalwaya, Managing Partner, Wavecrest Growth Partners, added: “We led Volante’s first-ever growth capital funding round in 2020. Since then, the company has steadily built on its early momentum. We are pleased to have participated in this latest financing round and look forward to supporting them through their next growth phase.”
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Vijay Oddiraju, CEO, Volante Technologies, said: “We welcome Sixth Street Growth and its deep expertise supporting the growth of payments and fintech businesses to Volante. This latest investment will further accelerate our product roadmap for our customers, particularly in global real-time payments, UK New Payments Architecture (NPA), and domestic and cross-border ISO 20022 modernisation.
“It will also allow us to expand the reach of our Payments as a Service offering further into the mid-tier bank segment. The US and Europe where FedNowTM Instant Payments, The Clearing House RTP, and SEPA Instant Payments, respectively, are driving the adoption of modern payments technology.”