UK Fintech SaaScada Finalizes £2.5M Seed Round To Target Challenger Bank Market

SaaScada, the Cloud native Core banking platform provider, recently announced it has secured £2.5 million in seed funding “from over ten investors – including leading figures from the banking and private investment sectors.”

The SaaScada Cloud native platform “allows Fintechs and challenger banks to launch new features and products in minutes, rather than months, at a much lower cost than traditional modular core banking platforms.”

SaaScada achieved 85% year-on-year growth in FY22, “securing a strong roster of clients and partners – including two of the UK’s top 20 fintechs.”

Following its success with Fintech challengers, SaaScada “is building strong momentum with banks, offering lending, deposit taking and current account products to both retail and SME customers.”

Co-founded by industry innovators Nelson Wootton and Steve Round, SaaScada offers “a highly agile core-banking engine that enables financial institutions to create and launch innovative banking services at speed and scale.”

SaaScada claims that it is “lowering the barrier to entry for a wider range of financial institutions, enabling them to offer banking products at a lower cost and with less complexity.”

In doing so, SaaScada “is levelling the playing field to enable smaller financial providers to rapidly create competitive offerings, helping to ensure that first class banking is accessible to all.”

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Source: UK Fintech SaaScada Finalizes £2.5M Seed Round To Target Challenger Bank Market – Crowdfund Insider