Financial software vendor Savana closes $45m Series A round

Pennsylvania-based financial software provider Savana has closed a $45 million Series A round led by Canadian growth-stage investor Georgian.

Savana raises $45m Series A

US banking tech heavyweight Fiserv also participated in the round and intends to expand its existing reseller agreement with Savana.

The funds from the Series A will be used to support the growth of the company’s core-agnostic Digital Delivery Platform, boost its go-to-market capabilities and accelerate the development of new services.

The firm’s API-first and cloud-native Digital Delivery Platform digitises bank-assisted and consumer-direct channels for banks and fintechs.

It is designed to eliminate process siloes and drive real-time orchestration and automation of customer, account and transaction requests, removing complexity and enabling new banks to launch faster.

Michael Sanchez, chairman and CEO of Savana, says the firm is aiming to “redefine customer-first banking operations”.