Open Digital Banking Tech Provider Narmi Secures $35M in Series B

Narmi, a leading provider of open digital banking technologies, announced $35M in Series B funding co-led by Greycroft and existing investors NEA and Picus Capital.

Narmi is one of the fastest-growing companies servicing financial institutions in the United States and plans to leverage the new capital to develop its digital banking solutions more broadly, partner with new financial institutions, and accelerate the digital modernization of the banking industry.

"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," said Nikhil Lakhanpal, 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," said Will Szczerbiak, Partner at Greycroft Ventures. "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."