Ninth Wave, a provider of cloud-based open finance solutions for financial institutions, secured new growth financing. Level Structured Capital, an affiliate of Level Equity, a growth equity firm with over $3 billion in assets under management, provided the funding. This financing will enable Ninth Wave to further expand its commercial team and make additional scale investments in the industry’s leading open finance connectivity platform for the foreseeable future.
“We chose to partner with Level Structured Capital not only for their financial backing, creative structuring, depth of knowledge of the B2B SaaS sector and collaborative approach, but for the invaluable operational support provided to Ninth Wave through their NextLevel operations team,” George Anderson, founder and CEO of Ninth Wave, said. “Their group of industry experts brings a depth of knowledge across key business areas like finance, technology and marketing, empowering us to ‘level up’ every facet of our business. This funding arrives at a pivotal moment for Ninth Wave as the financial industry accelerates toward open banking regulations. Our platform is essential for financial institutions navigating the complexities of data connectivity and APIs, and this partnership will allow us to deliver even greater value and cutting-edge solutions that drive meaningful ROI for our customers and partners.”
“Since our launch in 2019, Ninth Wave has grown efficiently and sustainably, adding some of the premier names in the industry,” Thomas Fast, chief financial officer of Ninth Wave, said. “We are excited to partner with a firm of Level Equity’s caliber as we focus on expanding our proven platform to financial institutions across North America.”
The capital will be used to add key team members primarily in sales, marketing and client support. Additionally, the company will aggressively recruit top talent that can help accelerate product innovation and technical excellence.
“Ninth Wave is exactly the kind of company we seek to partner with—proven technology, a high-caliber team, strong customer relationships and a scalable business model,” Barry Osherow of Level Structured Capital, said. “We are thrilled to support the team as they continue to roll out their platform to solve this critical industry need.”
