Ninth Wave Innovates with New Funding to Enhance Services
Ninth Wave Expands Presence with New Growth Financing
Ninth Wave, a prominent provider of cloud-based Open Finance solutions for financial institutions, has recently secured new growth financing. This crucial funding comes from Level Structured Capital, an affiliate of Level Equity, which has a remarkable track record and manages over $3 billion in assets. The infusion of capital is aimed at expanding Ninth Wave's commercial capabilities and investing in the leading Open Finance connectivity platform.
Serving Over 2,000 Financial Institutions
Ninth Wave boasts a growing clientele that spans over 2,000 financial institutions, including seven out of the top 10 U.S. banks and eight out of the top 10 wealth management firms. The company provides secure connectivity for more than 120 million accounts, enabling these institutions to connect effortlessly to a wide array of fintech services. The SaaS platform offers financial organizations the capabilities to provide real-time, secure, and privacy-compliant data connectivity to a rich ecosystem of fintech providers.
Strategic Partnership for Innovative Growth
The partnership with Level Structured Capital signifies more than just financial backing. George Anderson, the Founder and CEO of Ninth Wave, emphasized that Level brings operational support through their NextLevel Operations team, offering substantial expertise across finance, technology, and marketing. This collaboration empowers Ninth Wave to enhance every aspect of its operations and adapt to the swiftly changing landscape of open banking regulations. As the financial industry evolves, Ninth Wave's platform becomes increasingly essential for navigating the complexities of data connectivity and APIs, driving significant value for customers and partners alike.
Long-term Vision and Team Expansion
With the funding secured, Ninth Wave is set to focus on strategic growth and the addition of key personnel in sales, marketing, and client support. CFO Thomas Fast noted that since the company's launch in 2019, it has grown efficiently and sustainably, attracting premier names in the financial sector. This partnership aims to expand their proven platform throughout North America, fostering innovation and technical excellence.
About Ninth Wave
Headquartered in New York City, Ninth Wave is a permission-based SaaS platform that ensures secure data connectivity for financial institutions. It provides configurable controls and insights into all connections between aggregators, third-party applications, and internal systems. Through a single point of integration, Ninth Wave empowers financial institutions and their customers with oversight and access to connected applications, facilitating secure data exchange in a scalable open finance ecosystem.
About Level Equity
Level Equity is a private investment firm dedicated to providing capital to rapidly growing software and technology-enabled businesses. Since its inception, the firm has raised $3 billion in committed capital and made over 100 investments, focusing on long-term growth and development across various transactions.
Frequently Asked Questions
What is Ninth Wave?
Ninth Wave is a leading provider of cloud-based Open Finance solutions, enhancing connectivity for financial institutions.
Who has provided financing for Ninth Wave?
The financing has been provided by Level Structured Capital, part of Level Equity.
What does Ninth Wave's platform offer?
The platform provides secure, real-time data connectivity, enabling financial institutions to connect with fintech providers.
How many financial institutions does Ninth Wave serve?
Ninth Wave currently serves over 2,000 financial institutions, including major banks and wealth management firms.
What are the future plans for Ninth Wave?
Ninth Wave plans to expand its team and enhance its platform to deliver greater value and innovative solutions to its customers.
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