$11 million is raised in a Series A round by ZSuite Tech.

FinTech Company ZSuite Tech has raised $11 million for its Series A round of funding. ZSuite Tech provides financial institutions with unrestricted digital accounts.

Escrow, subaccounts, sub-ledgering, FBO, and trust accounts for business clients are all covered under the company’s unbound digital account coverage.

The fundraising was completed by BankTech Ventures and the Independent Community Bankers of America (ICBA).

To help financial institutions increase productivity and broaden their client base, ZSuite provides a digital commercial escrow and sub-accounting platform.

After a year of unheard-of growth for the firm, this funding was announced. The company’s online commercial banking solutions are being used by more than 40 banks across the country. Currently, 41,000 accounts may be used on the digital platform from ZSuite.

The funds will be used by ZSuite to expand operations and product development to keep up with the market’s increasing need for cutting-edge, digital cash and treasury management systems.

This service has traditionally only been provided by major multinational organizations, and it is occasionally referred to as Virtual Account Management (VAM).

ZSuite wants any commercial banker, regardless of size, to have access to this technology. Low-cost core deposits are in demand due to rising interest rates.

ZSuite’s solutions facilitate the acquisition of these important funds through a simplified procedure that eliminates labor-intensive sub accounting and escrow procedures while adhering to legal standards.

We partnered with ZSuite’s future because we saw the demand for these innovative solutions among banks.

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