$140 Million capital raise comes as Alkami nears 10 million digital users
September 29, 2020 (Plano, Texas) – Alkami Technology, Inc. (Alkami), a leading cloud-based digital banking solutions provider for banks and credit unions, today announced the initial closing of a $140 million funding round. D1 Capital Partners was the lead investor in the financing, alongside Fidelity Management & Research Company, LLC., Franklin Templeton, and Stockbridge Investors.
Mike Hansen, CEO said, “We are proud to add world class crossover investors to our strong existing investor base, supporting Alkami’s mission. We inspire and power the digital strategies of financial institutions as they seek to grow confidently and build thriving digital communities. Our clients are among the best performing and fastest growing FIs in the country, in part due to the strength and velocity of our platform, solutions and ecosystem. Together we are creating and delivering winning digital solutions to our clients’ customers, members and businesses.”
This news follows several major growth milestones. In September, the adoption of the Alkami digital banking platform reached nearly 10 million digital users under contract. Additionally, in September, the company crossed over $130 million of Annual Recurring Revenue under contract by adding its 165th client to its digital banking platform.
“Our mission at D1 is to back the world’s best companies and management teams. Based upon our deep research, we believe that Alkami is a clear industry leader in the digital banking space that has earned the trust of hundreds of financial institutions and millions of users,” said Daniel Sundheim, Founder of D1 Capital Partners. “We have been impressed by the company’s uncompromising focus and bold investments and expect its innovation and leadership to continue.”
Goldman Sachs & Co. LLC. served as sole placement agent in this round.
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