Ninth Wave Grows with New Funding
Ninth Wave, a leading provider of cloud-based Open Finance solutions for financial institutions, has successfully secured new growth financing. This essential funding comes from Level Structured Capital, an affiliate of Level Equity, which has an impressive track record and manages over $3 billion in assets. The capital infusion is intended to bolster Ninth Wave's commercial capabilities and further invest in its advanced Open Finance connectivity platform.
Supporting Over 2,000 Financial Institutions
Ninth Wave has built a strong clientele that exceeds 2,000 financial institutions, which includes seven of the top 10 banks in the U.S. and eight of the top 10 wealth management firms. The company ensures secure connectivity for more than 120 million accounts, allowing these institutions to seamlessly connect to a diverse range of fintech services. Their SaaS platform equips financial organizations with real-time, secure, and privacy-compliant data connectivity to a vibrant ecosystem of fintech providers.
Strategic Partnership for Innovative Growth
The collaboration with Level Structured Capital signifies more than just a financial investment. George Anderson, Ninth Wave's Founder and CEO, pointed out that Level adds operational support through its NextLevel Operations team, bringing valuable expertise in finance, technology, and marketing. This partnership enables Ninth Wave to refine every facet of its operations and respond effectively to the rapidly changing landscape of open banking regulations. As the financial sector continues to evolve, Ninth Wave's platform becomes even more vital for navigating the complexities of data connectivity and APIs, delivering considerable value to both customers and partners.
Long-Term Vision and Team Growth
With the new funding in place, Ninth Wave is gearing up for strategic growth, including the recruitment of key personnel in sales, marketing, and client support. CFO Thomas Fast remarked that since launching in 2019, the company has achieved efficient and sustainable growth, attracting top-tier names in the financial industry. This partnership is set to expand their proven platform throughout North America, driving innovation and technical excellence.
About Ninth Wave
Based in New York City, Ninth Wave operates a permission-based SaaS platform that guarantees secure data connectivity for financial institutions. It offers configurable controls and insights into connections between aggregators, third-party applications, and internal systems. By providing a single point of integration, Ninth Wave empowers both financial institutions and their clients with oversight and access to linked applications, ensuring secure data exchange within a scalable open finance ecosystem.
About Level Equity
Level Equity is a private investment firm committed to delivering capital to rapidly growing software and technology-enabled businesses. Since its start, the firm has raised $3 billion in committed capital and made over 100 investments, focusing on long-term growth and development through various transactions.
Frequently Asked Questions
What is Ninth Wave?
Ninth Wave is a leading provider of cloud-based Open Finance solutions that enhances connectivity for financial institutions.
Who provided financing for Ninth Wave?
The financing was provided by Level Structured Capital, a part of Level Equity.
What does Ninth Wave's platform offer?
Its platform delivers secure, real-time data connectivity, allowing financial institutions to connect with fintech providers.
How many financial institutions does Ninth Wave serve?
Ninth Wave serves over 2,000 financial institutions, including major banks and wealth management firms.
What are the future plans for Ninth Wave?
Ninth Wave intends to expand its team and enhance its platform to provide more value and innovative solutions to its customers.
