Quiltt is a technology company dedicated to simplifying the integration of financial services into applications, enabling businesses to create innovative financial products with ease. By streamlining access to leading financial data providers through a unified platform, Quiltt empowers companies to focus on delivering exceptional user experiences without the complexities of managing multiple integrations.
Key Strategic Focus
Quiltt's strategic focus centers on providing a low-code fintech infrastructure that allows startups and small businesses to launch financial services efficiently. The platform offers pre-integrated solutions with providers like Plaid, Spade, and ApexEdge (Billshark), facilitating features such as account aggregation, transaction enrichment, and bill management. This approach enables clients to concentrate on their core competencies while leveraging Quiltt's robust infrastructure.
Financials and Funding
Since its inception in 2020, Quiltt has successfully secured funding to support its growth and development. In July 2022, the company closed a $4 million seed funding round led by Greycroft and Newark Venture Partners, with participation from Motivate Ventures, Abstraction Capital, Tectonic Capital, and Bridge Investments. The capital is intended for expanding data integrations, enhancing platform capabilities, and growing the engineering team.
Technological Platform and Innovation
Quiltt distinguishes itself through its low-code platform that simplifies the integration of financial services. The platform features:
- Unified API: A single API that connects clients to multiple financial data providers, reducing the complexity of managing separate integrations.
- No-Code UI Modules: Customizable user interface components that can be embedded into applications with minimal coding, accelerating the development of financial features.
- Pre-Integrated Services: Partnerships with leading providers like Plaid for account aggregation and Spade for transaction enrichment, offering clients a comprehensive suite of financial tools.
Leadership Team
Quiltt's leadership comprises experienced professionals with diverse backgrounds:
- Ruben Izmailyan, Co-Founder and CEO: With nearly 15 years in the financial data industry, including roles at S&P Capital IQ, Ruben is a self-taught software engineer passionate about lowering technical barriers in fintech.
- Mark Bechhofer, Co-Founder and COO: An enterprise sales and partnerships leader with 18 years of experience, Mark has built and managed teams at startups like Capital IQ, Dropbox, and RelSci.
- Zane Pickett, CTO: A software developer with 21 years of experience, Zane specializes in Ruby on Rails and full-stack development, leading the design and architecture of Quiltt's products.
- Jenn Starr, Head of Marketing: With a background in B2B seed-stage companies and as a startup founder, Jenn has a track record of building successful marketing engines from the ground up.
- Charles Taylor, Business Development: A fintech sales leader and Chartered Financial Analyst (CFA), Charles has experience driving growth for early-stage startups, including roles at Plaid and Meld.
Competitor Profile
Quiltt operates in the competitive fintech infrastructure space, facing competition from companies offering similar services:
- Plaid: Provides a global data network enabling applications to connect with users' bank accounts, facilitating financial data access.
- Merge: An integrations platform that allows developers to integrate once with its API to offer a full category of integrations to their customers.
- Flinks: Offers an open banking platform that simplifies the use of financial data, providing connectivity to financial institutions across the US and Canada.
These competitors focus on financial data aggregation and integration, similar to Quiltt's offerings.
Strategic Collaborations and Partnerships
Quiltt has established significant partnerships to enhance its platform capabilities:
- Plaid: Integration with Plaid's bank data network allows Quiltt to offer comprehensive account aggregation services.
- Spade: Collaboration with Spade provides advanced transaction enrichment features, enhancing the quality of financial data available to clients.
- ApexEdge (Billshark): Partnership with ApexEdge enables Quiltt to offer bill management services, adding value to its financial service offerings.
Operational Insights
Quiltt's strategic positioning focuses on simplifying the integration of financial services through a low-code platform, differentiating itself by reducing technical barriers for clients. This approach allows businesses to rapidly deploy financial features without extensive development resources, providing a competitive advantage in the fintech infrastructure market.
Strategic Opportunities and Future Directions
Looking ahead, Quiltt aims to expand its data integrations, enhance platform capabilities, and grow its engineering team to support a broader range of financial services. By continuing to simplify the integration process and offering comprehensive solutions, Quiltt is well-positioned to capitalize on the growing demand for embedded financial services across various industries.
Contact Information
- Website: www.quiltt.io
- Headquarters: Dallas, Texas, United States
