Q2ebanking, an Austin, Texas-based provider of secure electronic banking solutions for banks and credit unions throughout the U.S., closed $20m in its Series C financing.
This round was led by new investor Battery Ventures, with participation from existing investor Adams Street Partners, which led Q2’s first two financing rounds.
The company intends to use the capital to expand sales and marketing efforts, as well as invest in continued platform innovation. New research and development efforts will focus on a unified user experience, mobility solutions, additional commercial features and further enhancing Q2ebanking’s security offering.
Led by Matt Flake, CEO and president, Q2 is a technology company that provides a comprehensive electronic banking platform that enables financial institutions and their customers to communicate and transact – anytime, anywhere. Its ebanking platform provides flexible deployment options for online banking, mobile and tablet banking, voice banking as well as a security application to mitigate fraud risk for community focused financial institutions.
The company provides ebanking technology for approximately 400 financial institutions, reaching over 3 million online users.