Ninth Wave, the leading provider of cloud-based Open Finance solutions for financial institutions, announced that the company has secured new growth financing. Level Structured Capital (an affiliate of Level Equity, a preeminent 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.
Ninth Wave serves over 2,000 financial institution clients including 7 of the top 10 US banks and 8 of the top 10 wealth management firms, providing secure connectivity for over 120 million accounts, enabling them to connect seamlessly to the fintech ecosystem. Ninth Wave’s SaaS platform allows financial institutions of all sizes to provide their clients with real-time, secure, reliable, and privacy-compliant data connectivity to a vast ecosystem of fintech providers.
“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. 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,” said George Anderson, Founder & CEO of Ninth Wave.
“Since our launch in 2019, Ninth Wave has grown efficiently and sustainably, adding some of the premier names in the industry. 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,” said Thomas Fast, Ninth Wave CFO. 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. We are thrilled to support the team as they continue to roll out their platform to solve this critical industry need,” said Barry Osherow of Level Structured Capital.
About Ninth Wave:
Based in New York City, Ninth Wave is a SaaS permission-based platform that delivers secure data connectivity to financial institutions, offering configurable controls, visibility, and insights into all connections between aggregators, third-party apps, and internal applications. Ninth Wave empowers financial institutions and their customers with access and oversight to their connected apps through a single point of direct integration, providing unparalleled connectivity and universal compatibility, and enabling secure data exchange in a holistic and scalable open finance ecosystem. To learn more, visit ninth-wave.com.
About Level Equity:
Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-enabled businesses. Level provides long-term capital across all transaction types in support of continued growth. The firm has raised $3.0 billion in committed capital and has made over 100 investments since its inception. For more information, visit https://www.levelequity.com/.
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