Apiture, the digital banking transformation company, announces an investment of $10M from Bankers Healthcare Group (BHG), the source of the most innovative financial solutions available on the market today and the creator of the largest community bank network in the country. The funding, finalized in December 2020, comes in addition to the $20M investment raised by Apiture in July of 2020. Apiture plans to use the additional capital to accelerate key features on the product roadmap in 2021.
In addition to being an investor, BHG also leverages Apiture to power its growing portfolio of financial solutions.
“We see value in aligning with companies like Apiture that prioritize innovation as much as we do and are at the forefront of their industries,” said Al Crawford, co-founder, chairman, and chief executive officer of Bankers Healthcare Group. “Our partnership will help us bolster the products we offer, while also strengthening our own digital banking capabilities at BHG.”
As a significant shareholder of BHG, Pinnacle Bank played a key role in the deal. Hugh Queener, co-founder and chief administrative officer at Pinnacle Bank, board member at Apiture and board member at BHG, said, “Since our initial investment in mid-2020, Apiture has made smart progress in what their product can do, and we at Pinnacle have been pleased with the results. Adding BHG to the mix will put Apiture in a great position for more success in 2021.”
The investment will allow Apiture to accelerate platform capabilities further to serve a broader range of financial institutions. Apiture chief executive officer, Chris Babcock, said, “This additional investment provides an excellent opportunity for Apiture to both deepen our existing relationships and expand our target market through enhanced offerings. Having the support and partnership of the team at Bankers Healthcare Group in addition to the investments made earlier in 2020 will help us to succeed in our mission to transform the digital banking space as a long-term innovator.”
Apiture is on a mission to change the way the financial industry operates digitally by providing the integrations, capabilities, and resources that banks and credit unions have not had access to in the past. Offering two differentiated digital experience platforms, Apiture Xpress and Apiture Open, Apiture has developed innovative solutions that can be used by financial institutions of any size. Apiture products currently serve over 400 financial institutions within the United States market. Apiture is headquartered in Wilmington, North Carolina, with offices in Austin, Texas.
About Bankers Healthcare Group
BHG is transforming the financial industry; leveraging the power of data, analytics, and cutting-edge technology to become not only the number one source for professional loans, but the creator of the largest community bank network in the country.
Since 2001, BHG has originated more than $7 billion in loan solutions to top-quality borrowers, which community and midsize banks can access via a state-of-the-art loan delivery platform. Building on nearly two decades of innovation, BHG and its family of brands now offer a full suite of financial solutions that span business, consumer, and SBA 7(a) loans, credit cards, collection services, risk management services, and point-of-sale financing with a focus in patient lending.
With record growth year after year, BHG continues to be recognized regionally and nationally: earning a spot on the Inc. 5000 for 14 years running, and receiving accolades from Great Place to Work® and Fortune magazine, among others. BHG is partially owned by Pinnacle Bank (PNFP) and has headquarters in Davie, FL and Syracuse, NY. To learn more about BHG’s financial solutions, visit bankershealthcaregroup.com, and for more information about the BHG Bank Network, click here. Follow BHG on LinkedIn, Facebook, and Twitter.
About Pinnacle Bank
Founded in 2000, Pinnacle Bank is headquartered in Nashville, Tennessee that operates throughout Tennessee, North Carolina, South Carolina, and Virginia. Pinnacle Bank provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. Pinnacle’s mission is to provide distinctive financial service and advice to clients and enrich the lives of their associates while making a positive impact on the community.