Payments provider Volante Technologies has raised $35m in a growth equity financing round, which was led by Wavecrest Growth Partners.
Visa, BNY Mellon, Citi Ventures and PostePay also joined the funding round.
Go deeper with GlobalData
Volante offers payments and financial messaging solutions in the cloud. The company will use the fresh funds to expedite cloud expansion worldwide.
Also, the company plans to expand its presence into new geographies, market segments and industry verticals.
Wavecrest co-founder and managing partner Vaibhav Nalwaya said: “Volante has built an impeccable reputation as a fintech that can quickly enter and dominate new markets.
“With cloud and digital transformation becoming ever more critical for organisations of all types, Volante is perfectly positioned to capitalise on this arc of success. We look forward to accelerating the company’s growth trajectory.”
Volante has been working with BNY Mellon since 2017 to develop and implement real-time payment capabilities.
Meanwhile, the company has collaborated with Citi’s Treasury and Trade Solutions business for several years. Currently, it acts as the translation layer across Citi’s core payments infrastructure.
PostePay, an Italian Electronic Money Institution (EMI), and Volante partnered to facilitate instant payments for SCT-INST. The companies also intend to use their open banking platform to offer a new transactional gateway to standard interbank networks.
Volante Technologies co-founder and CEO Vijay Oddiraju said: “We started Volante in 2001 with a clear purpose. We wanted to help financial institutions by providing modern solutions to simplify the complexity of their operations and accelerate business outcomes, from capital markets to custody to transaction banking.”
