PortX, an AI-based data integration platform designed for banks and credit unions, has announced the closing of a strategic growth round supported by new investors Allied Solutions and the American Bankers Association (ABA). The funding extends PortX’s Series B round and reflects growing confidence in the company’s ability to help financial institutions operate with greater speed, intelligence, and efficiency.
The round marks the continued support of leading financial industry partners, with renewed participation from existing investors such as BankTech Ventures, Curql Collective, BTech Consortium, EJF Capital, and others. This investment demonstrates an ongoing commitment to PortX’s strategy and progress within the financial technology sector.
PortX currently serves over 200 banks and credit unions through its PortX Platform, which PiXi AI powers. The platform centralizes data, payments, and integrations into a secure, scalable system, enabling financial institutions to improve connectivity and streamline operations.
Allied Solutions, a prominent provider of insurance, lending, and risk management services to financial institutions, has deepened its technology collaboration with PortX through this investment. Serving over 6,000 clients nationwide, Allied selected PortX as the foundation for its core connectivity after evaluating several alternatives. The company plans to work with its client base in the coming years to explore the benefits of migrating to the PortX platform.
The American Bankers Association’s participation builds on its previous research into middleware technologies. In 2023, the organization’s “Exploring Banking Middleware Solutions” report identified PortX as a leading Integration-Platform-as-a-Service (iPaaS) provider tailored for banking. The ABA’s investment reflects its belief that partnerships with fintech companies like PortX are crucial for enabling faster innovation, improving customer experience, and fostering safer technology adoption across the industry.
How the funding will be used: This strategic growth round provides PortX with additional capital and strategic partnerships to accelerate its roadmap and expand the adoption of PiXi AI-powered solutions. The company plans to advance its mission of promoting open, connected banking through secure data integration that supports modernization and real-time insights for financial institutions nationwide.
KEY QUOTES:
“We’re humbled by the fact that the financial industry keeps doubling down on the work we’re doing. Our existing investors continue to demonstrate confidence in our growth, while the addition of Allied Solutions and the ABA represents massive faith in our platform and the value it delivers to FIs.”
David Wexler, CEO, PortX
“We are committed to investing in tools that modernize our business and streamline our service. PortX offers the innovative technology needed to deliver fast, secure, and proven integrations to support our Credit Union and Banking clients.”
Pete Hilger, CEO, Allied Solutions
“To stay competitive, banks must embrace faster, more flexible ways to deliver products and services. Fintech partnerships with companies like PortX are essential to driving innovation in banking, and our investment will get this technology in the hands of banks even sooner.”
Rob Nichols, President and CEO, American Bankers Association
“PortX is well-positioned to establish itself as a leader in banking middleware, offering a robust, scalable solution with strong integration capabilities. We’ve heard nothing but strong praise from bankers across the country for PortX’s ability to deliver and execute effectively.”
Brooke Ybarra, Senior Vice President of Innovation, American Bankers Association
