Narmi raises $35 million
Narmi, a provider of digital banking technologies, announced $35 million in Series B funding co-led by Greycroft, NEA, and Picus Capital.
Founded in 2016, the NYC-based startup helps banks and credit unions deliver a better digital banking experience by offering solutions that include mobile banking, online banking, digital account opening and banking APIs. Narmi also offers integrations with third parties through its AppXchange and some of the available companies include Lemonade and Ladder Life.
Some of Narmi’s clients include Berkshire Bank, LendingClub, Twinstar Credit Union, First Internet Bank, University Credit Union, and Freedom Credit Union.
“Our vision is to give every financial institution in the country full confidence that they can grow and prosper in a digital-first way. We will keep building, innovating and staying laser-focused on this vision until it is achieved. This investment from blue chip firms like NEA and Greycroft will help make this vision a reality.” – Nikhil Lakhanpal, co-founder of Narmi.
“So much of what’s missing in digital banking today is a true commitment to constant innovation. Financial institutions shouldn’t have to worry about their digital offering becoming outdated. We know that is our responsibility and ultimately our biggest differentiator. We outline our largest product changes every month at new.narmi.com and make this publicly available to hold ourselves accountable.” – Chris Griffin co-founder of Narmi.
“One major challenge Narmi’s customer base faces is delivering the kind of modern digital banking experiences that users have come to expect. And a lacking digital presence makes it harder to acquire and retain customers, scale operations, grow deposits, and resonate with younger, digitally native users. Enter Narmi, which enables banks and credit unions of all sizes to offer a digital experience on par with the largest banks and most innovative neobanks. Narmi is doing important work and we are proud to be a part of it.” – Will Szczerbiak, partner at Greycroft.
