Malauzai Software Inc., an Austin, Texas-based provider of mobile banking SmartApps for community financial institutions, raised $6.48m in Series C funding.
The round was led by Wellington Management Company, LLP.
The company, which had preveiously raised around $5.3m, intends to use the funds to continue to grow the organization and expand the functionality of its SmartApps as well as to deploy more resources around marketing and sales efforts.
Incorporated in 2010 and led by Tom Shen, chief executive officer, Malauzai provides mobile solutions for community financial organizations to enhance the customer experience. The company has developed mobile features such as Picture Pay, Debit Card Management, 4-digit pin log-in and quick view of balance and transactions without the need to sign-in.
It currently supports more than 260 banks and credit unions, making advanced mobile functionality accessible to small and mid-sized community institutions.
Through these institutions, SmartApps are leveraged by more than 300,000 consumers and businesses.