MANTL Sees 700 Percent Spike in Volume and Raises $19mn

MANTL, which helps banks and credit unions with digital account openings, saw a 700 percent rise in deposit volumes in April due to the pandemic; with digital banking on the rise the company was also able to secure an extension to their series A, the total round is now $19mn; new and existing investors, including Point72 Ventures and Clocktower Technology Ventures, participated in the round; the new funds will be used to accelerate product development and team growth, particularly across engineering, product, and sales; MANTL CEO and Co-Founder Nathaniel Harley sat down with TearSheet to discuss growth and the recent fundraising; the interview covered why clients are choosing MANTL over other solutions, what the new capital will be used for and as CEO what is Harley’s biggest priority for the company. TearSheet.