ZSuite Technologies (ZSuite Tech), a Westwood, Mass.-based financial technology company that powers financial institutions with unbound digital accounts encompassing escrow, sub-accounting, sub-ledgering, FBO, and trust accounts for commercial customers, announced that it completed an $11 million Series A funding.
The round was led by S3 Ventures, with participation from multiple private banks and JAM FINTOP.
This investment accelerates the ability of ZSuite Tech to scale its platform, grow the organization, expand into new markets and support the increasing demand for modern, digital commercial banking tools and solutions.
Company: ZSuite Technologies, lnc.
Round: Series A
Funding Month: Aug 2022
Lead Investors: S3 Ventures
Additional Investors: JAM FINTOP
Company Website: https://www.zsuitetech.com/
Software Category: Banking solutions
About the Company: Founded in 2019, ZSuite Tech is a bank-born advocate for the technological and financial growth of banks, providing SaaS solutions as a unique, value-add service. ZSuite Tech is a financial technology company that aims to power financial institutions with digital escrow products for specific commercial verticals that they can offer to their clients. ZSuite’s products, ZRent and ZEscrow, streamline the collection of recurring payments and automate the management and compliance around multi-use escrow and sub-accounting processes. Its suite of all-digital product offerings enables financial institutions to increase low-cost, core deposits, improve the customer experience and reduce internal costs with digital efficiencies. ZSuite Tech currently partners with more than 36 institutions across the United States and supports approximately 41,000 escrow accounts.