D3 Banking pulls $10 million in funding, launches first bank product
OMAHA—A $10 million round will get D3 Banking another step closer to providing full online platforms for multiple mid-sized banks.
The Omaha financial tech company, established in 2011, has two beta customers, but CEO Mark Vipond said the $7 million investment from Virginia’s Route 66 Ventures and $3 million in follow-on funding from previous investors will give his company a chance to hire and grow to more banks.
The full terms of the deal were not disclosed, but the investments brings D3 Banking’s funding to a total of $16.1 million over the past few years.
Already at 35 employees, Vipond said he hopes to hire 20 more in product development, marketing and sales to expand its reach.
Vipond hopes banks with around 100,000 or more digital customers will adopt the platform, which uses built in analytics to help banks give better advices and services to customers.
The platform provides traditional online banking services like money transfers and bill pay, but also built in budgeting, spend tracking and analytics on cash flow. The responsive design platform has a consistent experience from desktop to mobile to tablet, Vipond said.
Many banks are close to ditching their original online banking systems developed in the early 2000s for more advanced systems, Vipond said. And for the first time, banks are seeing branch traffic decline mainly because of the online and mobile experiences available, he said.