# Narmi

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/narmi

- Industry: Financial Services
- Headquarters: New York, US
- Website: www.narmi.com
- Total disclosed funding: $57M
- Latest round: Series B (May 4, 2022)
- Investors on record: 8

## About

Based in the US, Narmi Inc. specializes in providing innovative digital banking solutions for financial institutions, focusing on enhancing user experiences and streamlining banking operations through its comprehensive platform.Founded in 2016 in New York, US, Narmi Inc. delivers digital banking services tailored for financial institutions. The company has secured a total of USD 35.00 mn across its funding rounds, with the latest being a Series B round on May 4, 2022, co-led by Greycroft Partners, New Enterprise Associates, and Picus Capital. Narmi was established by Chris Griffin and Nikhil Lakhanpal, who have been instrumental in shaping its vision in the digital banking landscape.Narmi specializes in delivering innovative digital banking solutions tailored for modern financial institutions. Its core offerings revolve around a comprehensive digital banking platform designed to enhance user experience and streamline banking operations. The platform includes features such as online account opening, mobile banking, and personalized financial management tools, aimed at addressing the evolving needs of both financial institutions and their customers. By facilitating seamless integration of banking services, Narmi serves a diverse client base, including credit unions and community banks, primarily in the United States. The solutions are crafted to meet the specific requirements of these institutions, empowering them to compete effectively in the digital landscape.Narmi's revenue generation model is primarily based on subscription partnerships with financial institutions that utilize its digital banking platform. These institutions typically enter into agreements that provide them access to Narmi's suite of services, which enhances their banking capabilities and customer engagement. The revenue is driven by recurring subscription fees associated with these partnerships, allowing Narmi to establish stable financial relationships with its clients. By offering a scalable platform, Narmi's revenue structure supports various tiers of service that can be customized based on the specific needs of each institution, thereby maximizing value for both parties involved in the transaction.In May 2022, Narmi Inc. raised USD 35 mn in Series B funding, which will be utilized to accelerate the development of its digital banking services and expand its partnership network within the financial industry. The company is focused on designing and launching new products aimed at enhancing the capabilities of its platform, while also targeting expansion into additional markets across the United States.

## Funding rounds

- Series B, May 4, 2022, $35M — New Enterprise Associates, Greycroft, Picus Capital
- Series A, Feb 2, 2021, $20M — New Enterprise Associates, Contour Venture Partners, Patriot Financial Partners, Firebolt Ventures, Picus Capital
- Seed, Dec 4, 2018, $1.9M — Picus Capital, Actions Capital
- Seed, Nov 1, 2018 — Kairos

## Investors

- Kairos (https://capitalatlas.ai/funds/kairos) — Seed
- Picus Capital (https://capitalatlas.ai/funds/picus-capital) — Seed, Series A, Series B
- Actions Capital (https://capitalatlas.ai/funds/actions-capital) — Seed
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B
- Contour Venture Partners (https://capitalatlas.ai/funds/contour-venture-partners) — Series A
- Patriot Financial Partners (https://capitalatlas.ai/funds/patriot-financial-partners) — Series A
- Firebolt Ventures (https://capitalatlas.ai/funds/firebolt-ventures) — Series A
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series B