The investment will speed up their product development, especially in global real-time payments.
Volante Technologies, a New York City-based company specializing in cloud payments modernization, has successfully raised US$66 million through debt and equity financing in a recent funding round. Led by Sixth Street Growth, the technology growth investing division of Sixth Street, the round also welcomed participation from Wavecrest Growth Partners and Wells Fargo Strategic Capital. This funding marks a continuation of Volante’s growth, with total external investment in the company now reaching US$116 million.
Expanding horizons in real-time and modern payment solutions
Vijay Oddiraju, the CEO of Volante Technologies, conveyed his enthusiasm about Sixth Street Growth joining forces with Volante. “This latest investment will further accelerate our product roadmap for our customers, particularly in global real-time payments, UK New Payments Architecture (NPA), and domestic and cross-border ISO 20022 modernization,” Oddiraju stated.
He further noted that the new funds will facilitate extending their Payment as a Service (PaaS) solution, especially targeting mid-tier banks in the United States and Europe. He underlined the growing adoption of modern payment technology, driven by initiatives such as FedNowTM Instant Payments, The Clearing House RTP® and SEPA Instant Payments, as a driving force behind this expansion.
Industry leaders back Volante’s innovative payment solutions
Nari Ansari, Managing Director at Sixth Street Growth, recognized Volante’s role in offering a quick transition to payment innovations for financial businesses. Ansari highlighted Volante’s PaaS and low-code payments platform as key drivers of the company’s compelling value proposition. Ansari also noted the increasing focus of financial institutions on payment modernization and FinTech partnerships, making it an opportune moment to extend Volante’s market reach.
“We are investing in Volante because we are confident they have a clear advantage over legacy providers and challengers and are best positioned to capitalize on the growth opportunity and further outpace their competitors,” Ansari remarked.
Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners, reflected on their initial investment in Volante in 2020 and commended the company’s growth since then, including achieving the top position in IBS Intelligence’s Wholesale Payments League Table for three consecutive years. Wavecrest’s continued participation in this financing round underscores its commitment to support Volante’s ongoing expansion.
Volante’s PaaS: Transforming payment processing for financial companies
Founded in 2001, Volante helps financial companies quickly upgrade their old payment systems and be more innovative. Its PaaS and the underlying low-code payments platform present a compelling value proposition.
PaaS provides a comprehensive online solution for managing monetary transactions, addressing the traditional reluctance of financial institutions to adopt new technologies due to entrenched systems and complex software. By offering payment services via the cloud, PaaS alleviates the burden of setting up and managing in-house systems, with providers handling aspects like software, security and ongoing maintenance.
This funding round represents a significant step in Volante Technologies’ journey towards further innovation and expansion in the payment technology sector, particularly in real-time and modern payment solutions.
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Press release link: https://www.prnewswire.com/ae/news-releases/volante-technologies-raises-66-million-in-strategic-investment-round-led-by-sixth-street-growth-301980149.html
