Company name: Core10 Inc.
Amount raised: $6.5 million, according to a news release, led by Patriot Financial Partners, with participation from Jam Fintop and the Independent Community Bankers of America. The round brings Core10’s lifetime funding to $12.5 million.
What they do: Franklin-based Core10 provides technology services to banks, including digital account opening, digital lending and fintech connectivity, according to the release.
Why it matters: Fintech is one of Middle Tennessee’s fastest-growing sectors in the technology industry, recording 60 raises worth $364 million in the last five years.
What the funds will be used for: The raise will be used to scale the growth of the company’s Accrue banking platform, according to the release.
Quotable: "Accrue offers an efficient and affordable pathway for community banks responding to growing demand for digital experiences that deliver convenience and speed," ICBA Executive Vice President and Chief Innovation Officer Charles Potts said in the release. "We believe Core10 is at the forefront of technology companies that are fueling the success of community banks’ digital transformation strategies and are pleased to be part of their innovation journey.”
