Parlay Finance has raised $2 million in a funding round led by fintech venture capitalist Jam Fintop. 

The AI-driven loan origination service provider will use the money to grow distribution with “core and data providers,” a spokesperson told Bank Automation News. Parlay announced the funding June 9.

The company’s API-forward architecture and integration console allows it provide a loan origination system on its platform that lets lenders obtain data once and automatically send it to core banking platform, according to the spokesperson. 

“Small business lending is a $1.4 trillion market, yet only one in five small businesses get approved for a loan,” the spokesperson said, adding that with Parlay’s tech, lenders can fulfill loans for all businesses. 

The $12.6 billion Live Oak Bank and online credit decisioning provider Stratyfy are among Parlay’s clients, according to the company. 

Vine Financial raises undisclosed amount in seed funding 

Automated lending service provider Vine Financial has raised an undisclosed amount in its seed round, according to its June 12 release. 

The Austin, Texas-based company raised money from 11 banking and fintech leaders, the release stated, adding that representatives of some of the investors will form the company’s first board of directors. 

“We plan to use the funding to accelerate our pace of product innovation, add customer support, and increase our sales and marketing outreach,” David Eads, co-founder and chief executive, told BAN. “We will be announcing new features and capabilities this summer and into the fall.” 

The money will allow Vine Financial to develop features that lenders have been requesting, Eads said.  

“We are laser focused on helping lenders improve their accuracy and auditability and reduce the amount of time it takes to originate loans and perform credit reviews,” he said. 

The $1 billion Freedom Bank is a Vine Financial client. 

Tensec raises $12M in seed funding 

Cross-border payments service provider Tensec has raised $12 million in seed funding from venture capital companies including Costanoa Ventures, Quiet Capital and WillowTree Investments, according to Tensec’s June 18 release. 

The money will support the company’s efforts to facilitate cross-border payments, real-time payments and transaction banking services for global trading companies and their clients. 

Tensec clients handle $10 billion in annual trade volume in the Americas. The company anticipates that its pending expansion into Europe and Asia will increase annual trade volume to $30 billion, the release stated. 

Fispan raises $30M in Series B 

Fispan has raised $30 million in a Series B round led by Canapi Ventures, according to the embedded finance service provider’s June 3 release. 

“The $30 million will boost Fispan’s AI-driven automation and ERP integrations, streamlining treasury tasks like payments and reconciliation,” a spokesperson told BAN. “Enhanced AI will improve predictive analytics and reduce errors, while expanded integrations with platforms like NetSuite and Sage Intacct will centralize workflows, saving time and costs for mid-market businesses.” 

Fispan aims to expand globally, grow banking partnerships and enhance AI and ERP integrations for comprehensive treasury solutions, the spokesperson said.  

JPMorgan, TD Bank and Wells Fargo are among Fispan’s clients, according to the company. 

Ciroos raised $21M in seed funding 

Ciroos raised $21 million in a seed round led by Energy Impact Partners LP, according to the agentic AI service provider’s June 3 release. 

The company will use the money to speed development of its AI SRE (site reliability engineers) Teammate solution and scale go-to-market operations in preparation for general availability this year, Ronak Desai, co-founder and CEO, told BAN. 

“We’re also continuing to expand our integrations with the tooling enterprise ops teams typically rely on, so that our AI SRE Teammate works natively with their existing workflows,” Desai said. 

The Pleasanton, Calif.-based company designed its solution to meet the needs of global customers, Desai said, adding that it will initially focus on North American customers and expand as demand and strategic opportunities emerge. 

Spinwheel raises $30M in Series A 

Spinwheel has raised $30 million in a Series A round led by F-Prime Capital, according to the consumer debt management service provider’s June 26 release. 

Spinwheel helps consumers consolidate and making debt-related payments on its platform, according to the company.  

The Oakland, Calif.-based company uses consumer’s personal identification information, like phone number and date of birth, to track outstanding obligations and help them develop a plan to pay the debts off, according to the company. 

The company has raised more than $41 million since its founding in 2019 and boasts investors including QED Investors and F-Prime, according to Crunchbase.