Malauzai Software is a provider of mobile and Internet banking SmartApps for community financial institutions. Its product suite includes Consumer, Small Business, and Employee SmartApps as well as SmartwebApps and SmartwearApps that extend desktop Internet banking into browsers and wearables. At year-end 2015 the company's SmartApp downloads surpassed one million and more than 400 community financial institutions used its solutions, with customers seeing an average expansion of more than 30 percent in active mobile bankers. The company reported employee growth of over 65 percent in 2015 and added talent focused on business banking and advanced web technologies. Malauzai expects high growth in 2016 and plans to scale SmartwebApps and business services to additional banks and credit unions. To fund this expansion it completed an $11 million round of funding earlier in the year. Malauzai Software builds mobile banking SmartApps for community financial institutions, offering features such as Picture Pay, Debit Card Management, 4-digit PIN login, and quick-balance views without sign-in. The company supports more than 260 banks and credit unions and its SmartApps are leveraged by over 300,000 consumers and businesses. Malauzai will use its latest funding to grow the organization and expand SmartApps functionality. The company also plans to deploy more resources to marketing and sales to improve market presence. Malauzai aims to help clients drive mobile banking adoption among account holders and to level the mobile-banking playing field versus larger banks. Malauzai was incorporated in 2010 and is based in Austin, Texas. Malauzai Software builds mobile banking SmartApps tailored to community banks and credit unions. The company plans to use new capital to quickly ramp up mobile banking programs and pursue strategic partnerships. Funds are allocated to expand its mobile product offerings into a platform covering retail, business, and internal employee-facing applications. Malauzai currently supports 122 banks and credit unions that are live with its SmartApps and has 170 signed clients. Its SmartApps are used by more than 162,000 end users. The company saw a 300 percent revenue increase in 2012 and has grown to a staff of more than 35 employees. Malauzai was incorporated in 2009 and is based in Austin, Texas. Malauzai Software provides mobile banking applications and a proprietary SmartApp platform for community financial institutions. Its SmartApps are available for smartphones and tablets (iPad/Android), can be updated in real time from a centralized location, and can be tailored to customer segments. The platform comprises social banking SmartApps, an Application Management System to manage growth across platforms, and Mobile Marketing to drive bank revenue. The company highlights features such as mobile deposit capture, rewards, and debit on/off to increase consumer adoption. Malauzai reported 15 institutions live and 49 signed and intends to use new capital to expand its footprint, pursue strategic partnerships, and raise awareness of its platform. The company aims to enhance the customer experience for banks and credit unions to drive satisfaction, referrals, cross-sales and revenue.

Total raised

$23M

Funding rounds

4

Latest round

Equity

Latest activity

Feb 2016