It’s only been just over a month since we had the pleasure of announcing the exciting news that Accenture and Zafin have entered into a strategic partnership. And now we have another announcement — Zafin has raised $17.2 million in growth financing led by Vistara Capital Partners, Beedie Capital and Accenture Ventures.
This funding is great news, and will allow Zafin to grow its sales and marketing efforts in addition to continued product innovation. Our founder and CEO, Al Karim Somji explained further in our press release:
“This round of funding will allow Zafin to fully execute on our business plans and strategy,” said Al Karim Somji, Zafin Founder and Group CEO. “We highly value our long-term partners at Vistara Capital and Beedie Capital and are excited to be working with Accenture as we jointly deliver value to our clients in the fields of open banking, core transformation, AI and machine learning.”
This funding comes at an important time when Zafin is vigorously pursuing its strategic objectives and expanding its global market share. And, as mentioned above, it will allow Zafin to continue to innovate on its product line, providing new solutions and building a better world to bank in.
“Technology continues to drive changes in consumer behavior and how they prefer to receive products and services from financial institutions,” said Alan McIntyre, a Senior Managing Director and head of Accenture’s global banking practice said. “We are pleased to extend our relationship with Zafin and invest in its software solution, which can help enable financial institutions to improve pricing, personalization and product make-up without having to replace their legacy systems – an essential component for many of those not among the top ten players in the market.”
Zafin (@zafin) is a leading financial technology provider that enables banks to form richer, more personalized client relationships. Built from the ground up for financial services, its platform empowers banks to enhance revenue and operational efficiency. Founded in 2002, Zafin sits among North America’s top FinTech companies, and is trusted by retail and corporate units at some of the largest banks worldwide. Headquartered in Toronto with global offices, Zafin has a proven track record with a 100 percent client retention rate as validation.
Cam is the Digital Communications and Marketing Coordinator at Zafin. With a background in journalism and a passion for blogging, Cam strives to tell compelling digital stories. At Zafin he will share the latest trends and news in the FinTech world, and share the Zafin role as leader in the industry. Follow him on Twitter @CamSmoth