TenureX, a Tel Aviv, Israel-based SaaS based corresponding banking platform, raised $5m in seed funding.
The round was led by Fintop Capital (together with its JV: JAM & Fintop), with participation from Chris Adelsbach, Jason Henrichs, Nissim Bar-El, Tom Brown, Rob Frohwein, Kathryn Petralia, Jonathan Ebinger, Ehud Arad, and Roman Regelman, and existing investors VentureIsrael, and Hack VC.
The company plans to use the funds to:
further accelerate its network growth, and
add more members to the network, each of which will improve the validation, quality, and coverage for all members.
Led by Izhar Arieli, CEO, TenureX is building a platform for financial institutions and small-medium banks to co-operate with each other, one transaction at a time without any adjustments, risk, or cost, by way of an API or a web portal. The platform creates a new workflow and validation process based on enhanced unified data sets to enable pre-validation capabilities (Know Your