“Our work with multibillion-dollar banks such as Arvest, First Tennessee Bank and IBERIABANK will result in more than 1.5 million users enjoying a more personalized, consistent and intuitive digital banking experience,” said Mark Vipond, CEO of D3 Banking, in a press release. “As a company we have successfully completed the largest replacement projects in the history of the industry. These benchmarks helped West Partners recognize the pace and direction of change in the digital landscapes and the role D3 Banking can play in arming banks and credit unions with the tools they need to competitively differentiate themselves.”
In addition to the $10 million, West Partners is providing the company with the right to draw additional equity funding, as well as a right to borrow under a three-year credit facility.
“West Partners prides itself on only making investments in strong, well-run companies that show potential for long-term growth and success,” said Dennis O’Brien, president of West Partners, in a press release. “D3 Banking’s commitment to replacing siloed, disparate channels with a consistent digital banking experience that uses data and analytics to provide Amazon-like financial services to the consumer makes this partnership an obvious choice.”
In 2014 SPN covered a previous $10 million round of fundraising for the company. D3 Banking was founded in 2011.