Glide Secures $15 Million to Revolutionize Banking Infrastructure with Innovative Embedded FinTech Solutions
Glide, a pioneering embedded FinTech platform, has successfully secured $15 million in a Series A funding round aimed at revolutionizing the digital capabilities of traditional financial institutions. This funding will enable Glide to enhance its innovative solutions, particularly for community banks and credit unions.
Funding Round Details
The recent funding round was spearheaded by Acrew Capital and saw participation from notable investors such as Pear VC, Pathlight Capital, and several influential angel investors. Key contributors included:
- Claire Hughes Johnson, former COO of Stripe
- Paul Williamson, former CRO of Plaid
- Arash Ferdowsi, co-founder of Dropbox
Transforming Digital Banking Experiences
Glide’s mission is to provide a unified digital experience platform that replaces the outdated and fragmented legacy systems currently used by many financial institutions. By offering a modern infrastructure layer, Glide enables community banks and credit unions to deliver banking experiences that compete with FinTech challengers.
Key Features of Glide’s Solutions
With the newly acquired capital, Glide plans to:
- Accelerate product development
- Enhance AI capabilities
- Expand its team across engineering, product, and market functions
Glide’s flagship product, Deposit Origination, significantly improves the account opening experience by reducing processing times from 20 minutes to under 3 minutes and tripling conversion rates during the onboarding process. The platform supports all account types, seamlessly integrates with existing systems, and allows for self-configuration, which streamlines operations and minimizes the need for multiple tech vendors.
Proven Market Success
In its inaugural year, Glide has successfully partnered with 15 credit unions, establishing multi-year contracts that showcase its traction in the market. Elizabeth Thornton, Vice President of Member Experience at Gulf Coast Educators Federal Credit Union, remarked, “Thanks to Glide, we’ve reduced application times and improved our ability to serve members quickly and effectively. It’s the digital transformation we needed.”
Board Expansion and Industry Impact
As part of this investment, Mar Hershenson, founding partner at Pear VC, has joined Glide’s board. Hershenson noted, “Glide has assembled a world-class team and built an industry-leading platform that uniquely bridges fintech innovation with traditional banking infrastructure. They’re transforming an industry long dominated by legacy providers.”
For more information on Glide’s innovative solutions and to stay updated on their progress, visit their official website at Glide.
