nCino receives $10 million in funding

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nCino has raised $10 million in funding from Wellington Management Company. nCino will be using the funding to accelerate their growth in the community bank and credit union markets.

“nCino values this investment as validation to our position as the leader in cloud banking,” stated Pierre Naudé, CEO of nCino. “It is a privilege to enter into an investor relationship with a firm that enjoys the reputation and reach of Wellington Management. Its investment into our company enables us to continue innovating our product offering, provide even greater service and support to our customers, and go to market more quickly with new features that continue to meet the current and future needs of the financial services industry.”

nCino has around $834 billion in client assets under management as of December 2013. The company serves as an investment advisor to over 2,100 institutions located in over 50 countries.

[Source: PEHub]

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