Argentine banking software maker Technisys has raised US$13 million in series B funding. The financing included investments from Intel Capital, Alta Ventures, KaSZeK Ventures, Endeavor Catalyst and Holdinvest.
The Miami, Florida-based firm stated that it would use the proceeds to expand and innovate its operations. According to Valor, Technisys is preparing to invest $30 million in Brazil to ensure that 50% of its revenue is earned in the South American country by 2016.
Founded in 1996, Technisys employs a total of 300 people. This includes about 50 staff in Brazil, but reports say Technisys will double its Brazilian workforce by the end of this year.
In Latin America, Technisys has aligned with regional banks, including Citibank, Banco Itaú, Banco Estado de Chile and Banco Original to help their customers send and receive money through various digital channels including mobile, ATMs and online.
The growing influence of the middle classes is forcing regional banks to look for online banking applications in a bid to offer innovative ways of banking.
”Digital channel convergence is one of the most relevant trends in digital banking today. Banks need solutions that enhance banking experience across channels increasing revenues opportunities and customer loyalty,” said Steven Long, VP of Intel and GM of Latin America.
Technisys’ main platforms are Cyberbank Omnichannel and Cyberbank Core, both of which are based on code-generation tools.
“Internet and new devices have dramatically transformed the financial services industry. This constitutes an unprecedented development opportunity for banks, retailers and other non-traditional financial service providers,” said Technisys CEO Miguel Santos.