Volante raises $66M for payments tech for banks and other legacy financial businesses
“Digital transformation” among enterprises hasn’t happened with quite the gusto that people predicted it would a few years ago. But today, a startup building fintech technology — for businesses to modernize legacy financial services like payments — is announcing a decent round of funding, a sign of how change is coming, even if slowly. Volante Technologies — whose low-code cloud payments services are currently used by some 150 major banks and other organizations providing financial services — has raised $66 million in funding. Sixth Street Growth, the growth stage division of the investment firm, led the round, with Wavecrest Growth Partners and Wells Fargo Strategic Capital also participating. The funding is coming as a mixture of equity and some debt: the company declined to disclose to proportion, nor has it detailed its valuation. Volante has raised $116 million to date. Volante, based out of New Jersey, will use the funding to make a push into more international services, and to sell to more mid-tier banks to complement the big names already on its customer list. …