Finxact Secures $12M in Seed Funding

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.



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