Numerated Growth Technologies, a Boston, MA-based provider of a real-time commerce platform for banks, raised $9m in its initial funding.
The round was led by Cultivation Capital FinTech and Venrock, with participation from Eastern Bank; FIS, First Federal Lakewood; Hyperplane; and Bright FinTech.
The company is using the funds to launch its platform.
Led by CEO Dan O’Malley, Incubated at Eastern Labs, the fintech incubator inside mutual bank Eastern Bank, Numerated Growth Technologies is a fintech startup that provides a real-time commerce platform that allows banks to make loans in real-time by digitizing their credit policies using data and data science technology. The platform is not a simple workflow and back office tool but automates marketing to bank customers and prospects across email, direct mail, online, and in mobile banking, increasing the consumers and businesses considering the bank for their borrowing needs. The solution then maximizes the conversion of that consideration into loans by executing the credit policy and loan closing in real-time.