In its most recent investment round, N5 Now attracted eight times more investment than expected.
In this way, the software company for the financial industry has new strategic allies to support its development and meet the high demand in places where it does not yet have operations.
With annual growth rates of 200 percent, the software company operates in 15 countries and is already preparing to open offices in other locations. Its expectations for the end of 2023 are to experience a 60% growth in its team, said a press release.
During its most recent investment round, one of the companies that participated was Illuminate Financial. This venture capital company has Limited Partners with financial institutions such as Citi, J.P. Morgan, BNY Mello, S&P Global, among others.
Also involved was Exor Ventures, a holding company controlled by the Agnelli family and shareholder of Ferrari, Stellantis, CNHI and The Economist. In addition, Madrone Capital Partner, a private equity firm associated with the Walton family, majority shareholders of Walmart, participated in the investment round. LTS Investments, Arpex Capital and Overboost also participated.
Julian Colombo, CEO of N5 Now, noted that these reactions were driven by the desire for high-level strategic partners. That way, customers can be served faster while the company continues its global growth.
Founded in 2017, the company’s goal is to transform the industry by helping financial institutions deliver greater efficiency to their customers and prepare for new industry demands. Its client portfolio includes companies such as Mastercard, Santander, Credicorp Bank, Zurich, Banoc Atlas, N26 and BCP.
Among the products and services offered, the N5 Now platform is the flagship product. Having a rapid implementation, it allows an increase in business productivity by 53%, improving NPS by more than 21 points. In addition, they reduce distribution costs by 16%, having tangible results in 100 days.
The suite is a systematic platform with native integration of the software needed for a financial institution. In this way, it has CRMs, BPMs, incentives and omnichannel, allowing to break down the natural barrier that prevents a bank from innovating, as it frees institutions from the complexity of their systems.