Finzly, the provider of modular banking and payments technology infrastructure for financial institutions, has announced the successful completion of its Series A funding round led by TZP Growth Equity, a fund within the TZP Group.
Founded in 2012 by Booshan Rengachari and headquartered in Charlotte, Finzly is recognized for its innovative approach to creating flexible banking and payments solutions. The company’s modern, cloud-based, and open API operating system operates parallel to a bank’s core, empowering financial institutions, fintechs, and businesses to swiftly adapt to changing market demands.
TZP Growth Equity’s investment in Finzly reflects their commitment to supporting companies that drive the evolution of the banking and financial sector. Finzly’s platform offers seamless integration of various banking services through its modern architecture, enabling banks to concentrate on creating customer-centric experiences. The funding and strategic partnership with TZP Group are expected to accelerate Finzly’s growth trajectory and enhance its market position.
Shamit Mehta, TZP Partner, expressed enthusiasm for the investment, citing Finzly’s innovative technology and unique platform that reduces the total cost of ownership for financial institutions. Finzly Founder and CEO Booshan Rengachari welcomed the strategic guidance and financial backing from TZP Group, emphasizing the significance of this partnership in the company’s journey.
Shamit Mehta, along with George Philipose, led the transaction for TZP, and as part of the deal, Shamit Mehta will join Finzly’s board. Legal counsel for TZP was provided by Goodwin Procter LLP, while McGuireWoods, LLP represented the Company.