Preczn – a leading financial services Command Center specializing in vertical SaaS platforms – recently announced the successful acquisition of $6.8 million in funding. The recent funding round was led by Flyover Capital and Blank Ventures, with notable participation from Grand Ventures, Gilgamesh Ventures, SaaS Ventures, Rosecliff Ventures, and Nelnet Ventures, among others.
This funding round will enable Preczn to accelerate the deployment of embedded payments, lending, banking, and other financial services, transforming vertical SaaS product suites into fully operationalized fintech offerings.
With the fintech industry continuing to expand, it is projected that fintech transactional volume executed through vertical SaaS platforms will reach approximately $5 trillion in 2023, with a further growth projection to $7 trillion by 2026 in the US market alone. As vertical SaaS platforms have the opportunity to increase their revenue per customer by over 5 times through the delivery of these financial solutions within their software, only a minority have been able to maximize this opportunity to its fullest potential.
Preczn is empowering vertical SaaS platforms by offering a seamless solution that enables them to integrate once and rapidly deploy these financial solutions without the need for additional development resources. From a central location, the SaaS platforms can effortlessly operate their entire fintech suite.
Platforms can optimize monetization while reducing the often sizable operating expenses associated with building and maintaining integrations, frameworks, and continued operationalization by streamlining the rollout of these solutions. And it is for these reasons that companies such as Buildertrend, a leading construction management platform, have chosen to work with Preczn.
Preczn’s advantage in providing this solution is amplified by the exceptional payments and fintech talent within its founding team, with expertise garnered from esteemed organizations such as Payrix, Stax, Spreedly, WorldPay, PayPal, etc. And the secured funds will be utilized by Preczn to strengthen its already impressive product and go-to-market teams. This investment will enable the company to harness its rapid growth and offer even more refined fintech productization to vertical platforms.
KEY QUOTE:
“We are thrilled to have the support of all our esteemed investors. This funding will propel Preczn forward in its mission to empower vertical SaaS platforms in unlocking the full potential of their fintech suites.”
— Malik Velani, CEO at Preczn
