- Data access and control firm Cinchy received $14.5 million in funding this week.
- The Series B round was led by Forgepoint Capital and brings Cinchy’s total funding to $24.2 million.
- As part of the investment, Forgepoint Managing Director Leo Casusol and Senior Associate Reynaldo Kirton will join Cinchy’s board of directors.
Sinchifintech, which is focused on helping businesses liberate their data, announced this week received $14.5 million in a Series B funding round. This brings the Canada-based company’s total funding to $24.2 million.
Led by Forgepoint Capital, the investment brings Forgepoint Managing Director Leo Casusol will join Cinchy’s board of directors. The firm’s senior associate Reinaldo Kirton joins the board as an advisor.
Cinchy was founded in 2017 to use the data structure to help banks access data from applications and other silos and assemble it within an easy-to-access data network. Today’s investment will help the company capitalize on the recent surge in demand for fabric and data networking solutions.
“Our mission is to unleash and harness the power of data, giving it back to teams and organizations to accelerate digital transformation and growth,” said Cinchy CEO and co-founder Dan Demers. “This latest round of funding helps us expand our team and launch new offerings that include pre-built data software solutions designed to help organizations immediately release both held data and siled SaaS applications. “
Cinchy – whose clients include TD bank, Colliers International, AIS and Natixis – has been named one of Deloitte’s Fast 50 Companies to Watch and a top growing Canadian company by The Globe and Mail. The company recently demoed at FinovateFall 2021 and won the Best Presentation award for its FinovateFall 2019 demo.
