NayaOne has received $4.7 million in funding in a round led by EJF Capital.
The company will use the funds to accelerate its product roadmap and meet demand.
NayaOne offers a sandbox-as-a-service, where banks can test new technologies, as well as a fintech marketplace, which serves as a network of vetted fintech solutions.
NayaOne, which just stepped off the FinovateEurope stage this week, has received $4.7 million in funding for its sandbox-as-a-service platform and fintech marketplace. The amount of the company’s total funds is undisclosed.
This investment round saw contributions from EJF Capital, which led the round, as well as from Valley Ventures and existing investor Carthona Capital. NayaOne will use the funds to accelerate its product roadmap and meet market demand by optimizing bank-fintech relationships.
When asked about the significance of today’s funding round, NayaOne CEO Karan Jain said, “It’s about more than just growth; it’s about setting the pace in a sector that’s fundamentally rethinking how it evolves.”
NayaOne was founded in 2019, just before the digital transformation wave that hit the industry in 2020. The company’s sandbox-as-a-service platform serves as a single place for banks to access hundreds of fintechs and datasets with which they can innovate, build, and test digital solutions quickly and securely. Banks also have access to NayaOne’s network of vetted fintech solutions that have been evaluated for quality, security, and compliance.
Providing banks with a single place where they can access fintechs and datasets helps them reduce the time it takes to adopt new technologies and solutions. It also reduces the risks associated with potential compliance, quality, and security issues.
“We’re still in the early stage of a tech revolution in banking and capital markets, and NayaOne stands out as the critical infrastructure enabling the next big leap forward,” said EJF Ventures’ Michael Cherepnin.
There’s a story behind the U.K.-based company’s name. The words Naya and One were derived from ancient wisdom. Naya signifies transformation and financial innovation, while One represents the company’s foundational principle, which is: unparalleled connectivity with a single gateway to financial technology.
Photo by Ostap Senyuk on Unsplash
