- Banking and insights platform FinGoal announced a new investment this week. The amount of the investment was not disclosed.
- The funding round was led by existing investor Naples Technology Ventures (NTV).
- FinGoal won Best of Show at FinovateSpring 2022 for its Aggregator Switch Kit, developed in partnership with fellow Finovate alum Envestnet | Yodlee.
Digital banking and personal finance insights platform FinGoal secured new funding this week. The Boulder, Colorado-based fintech announced that it has closed an investment round led by existing investor Naples Technology Ventures (NTV). The amount of the funding was not immediately disclosed.
“We believe FinGoal’s offering is a game changer in the banking and finance space,” NTV Managing Partner Mike Abbaei said. “Their platform will be a thriving success in the new digital world.”
This week’s funding marks the second time NTV has backed FinGoal. The company first invested in FinGoal in early 2022.
A specialist in enabling greater personalization in banking, FinGoal helps financial institutions understand where their customers are spending their money. These insights not only help FIs learn which banking products and services to offer their customers. This analysis also informs banks and other financial institutions on how best to market new offerings to their customers, as well.
“A business owner isn’t shopping for a business payments product – they want a way to better serve their customers and reduce costs,” FinGoal CEO David Nohe said. “Knowing what is really happening in the lives of customers allows FIs to do more with the account holders they already have.”
Making its Finovate debut in 2021, FinGoal returned to the Finovate stage less than a year later, securing a Best of Show award for its Aggregator Switch Kit that makes it easier for developers to quickly and easily transition away from their current data aggregator. The solution was developed in partnership with fellow Finovate alum Envestnet | Yodlee and provides a translation layer API that enables engineering teams to switch to Envestnet | Yodlee’s enrichment and make their first API call soon afterwards.
“Before today, switching aggregator was a pain in the butt,” FinGoal’s VP of Product Ariam Sium said from the FinovateSpring stage last May. “It took a lot of time and put a lot of product road maps at risk. At FinGoal, we believe that the best data made available through reliable and safe infrastructure is key to the future of financial services. That’s why we’re going to show you how to switch aggregators in minutes.”
Learn more about FinGoal in our podcast interview with Finovate VP Greg Palmer and FinGoal’s Sium.