Finxact, a Jacksonville, FL-based developer of Core-as-a-Service banking technology, raised $12m in seed funding.
Backers included Live Oak Ventures and other strategic investors and angels.
The company intends to use the funds to complete development of its platform.
Co-founded by Frank Sanchez, CEO, and Mike Sanchez, Finxact is developing an enterprise-class public cloud/private data Core-as-a-Service platform with an open banking API, which will allow banks to deliver new omni-channel services for today’s real-time, digital-first world.
Finxact Core is targeted for its first live customers in 2017 and general availability in 2018.