Larger banks and other financial service providers are getting a lot more serious when it comes to competing with upstarts that are disrupting their businesses with fresher approaches and newer technologies. Today, one of the companies helping those larger banks with that task is announcing a big round of funding to double down on that opportunity.

The funds — coming from a single investor, Motive Partners — values Backbase at €2.5 billion ($2.6 billion). Backbase provides a platform that essentially works with that: at the core is middleware that is tooled to bring in data from different sources and then use that information to build out “on the glass” services — those focused on customer engagement — such as customer onboarding, digital banking and other assistants, and other engagement tools.

https://www.backbase.com/

Backbase Raises Its First Funding, $128M At A $2.6B Valuation, For Tools That Help Banks With Engagement

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Backbase Raises Its First Funding, $128M At A $2.6B Valuation, For Tools That Help Banks With Engagement

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