Savana

Savana offers a banking infrastructure platform consisting of templates, APIs, and integrations designed to automate back-office and core banking processes. The platform separates third-party components of banking systems and converts them into application programming interfaces (APIs) that include the same components, rules, workflows, automations, and integrations. Banks can then use these APIs as a library of account servicing functions.

These functions can also be used to complement Savana’s enterprise content management system, which acts as a repository of a bank’s content related to customers and accounts. Additionally, Savana also offers low-code tools for users to build internal and external applications that can interface with the APIs. As of August 2022, the company served a customer base of around 10 client banks and FinTechs such as First Horizon.

Funding and financials

In August 2022, Savana raised USD 45 million in Series A funding led by Georgian Capital Partners. Notably, USD 10 million of the total funds raised in this round was debt funding. The company earmarked the funding to continue the development of its platform, increase its go-to-market activities, and accelerate the development of new capabilities. The company also planned to double its headcount from 200 by the end of 2022.