Banking Platform Raises $15 Million in Funding

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A Boston based fintech startup raised millions to automate banking services.

Numerated Growth Technologies announced today it has raised $15 million in Series B funding, the second funding round in three years. (The startup has raised $24 million in the last two funding rounds.) Patriot Financial Partners led this funding round.

In addition to Patriot, FINTOP Capital, Hyperplane Venture Capital and Venrock also participated in the funding.

In order to help traditional banks compete with the growing number of online based banks, Numerated uses machine learning and artificial intelligence to parse data from inside and outside of banks, as well as digitize credit policies, which allows them to offer customers convenient real-time borrowing experiences in as little as three minutes, according to Numberated.

Among Numberated’s financial services clients are Horizon Bank, Republic Bank, Eastern Bank, BNB Bank and Dollar Bank.