NayaOne Secures $4.7 Million in Funding Round

NayaOne, the Sandbox-as-a-Service platform that facilitates partnerships between financial institutions and fintechs, has successfully raised $4.7 million.

Investment Led by EJF Capital

The investment round was spearheaded by EJF Capital, and included Valley Ventures and Carthona Capital. Valley Ventures, the corporate venture capital branch of Valley Bank, and the first US adopter of NayaOne’s technology, also participated in the funding round.

The NayaOne platform offers a sandbox, a secure and isolated environment, for testing innovative technology sourced from a curated marketplace of vetted fintechs.

A Streamlined Approach to Vetting Fintech Vendors

Neal Kapur, Valley Ventures’ managing partner, praised the collaboration with NayaOne, stating that it has significantly streamlined the vetting process for fintech vendors. This strategic partnership has positioned the company advantageously in the digital transformation and AI race, according to Kapur.

Setting the Pace in the Financial Services Sector

Karan Jain, the CEO of NayaOne and a former Westpac professional, described the funding as recognition of the opportunity and the grand challenge the firm is addressing in financial services. As more banks strive to keep up with the digital transformation journey by collaborating with fintechs, NayaOne aims to set the pace in an industry that is fundamentally reassessing its evolution. Jain stated, “It’s about more than just growth; it’s about setting the pace in a sector that’s fundamentally rethinking how it evolves.”