{"id":9794,"date":"2023-09-13T09:36:40","date_gmt":"2023-09-13T12:36:40","guid":{"rendered":"https:\/\/blog.n5now.com\/big-name-vcs-back-startup-to-solve-a-multi-billion-dollar-banking-problem\/"},"modified":"2023-09-28T09:39:39","modified_gmt":"2023-09-28T12:39:39","slug":"big-name-vcs-back-startup-to-solve-a-multi-billion-dollar-banking-problem","status":"publish","type":"post","link":"https:\/\/blog.n5now.com\/en\/big-name-vcs-back-startup-to-solve-a-multi-billion-dollar-banking-problem\/","title":{"rendered":"Big Name VCs Back Startup to Solve a Multi-Billion Dollar Banking Problem"},"content":{"rendered":"\n

Illuminate Financial, Madrone Partners, Exor Ventures and others invest in N5  New investment will propel U.S. market entry and global growth <\/em><\/strong><\/p>\n\n\n\n

BUENOS AIRES, Argentina, Sept. 13, 2023 \/PRNewswire\/ — Fintech startup, N5<\/a> has secured the backing of a number of high profile investors, on the strength of its potential to save financial institutions billions of dollars a year.<\/p>\n\n\n\n

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U.S. financial institutions lose an estimated $272B each year through inefficiency and missed opportunities resulting from fragmented and siloed technologies and processes, perpetuated and exacerbated by ‘software entropy’. N5 was founded by experts from the banking sector specifically to solve that problem, and is already doing so with customers in other parts of the world. With this new investment, the company plans to enter the U.S. market.<\/p>\n\n\n\n

The new investors are:<\/p>\n\n\n\n