Former CheckFree Corp. founder and CEO Pete Kight led a $2.5 million Series B investment in Fi Navigator Corp., a web-based data and analytics platform for the banking industry, according to a release from the company.
The funding round was supported by Commerce Ventures, an early-stage investment firm that focuses on fintech companies. Several other prominent venture capital firms and private investors also participated in the funding round, officials said.
“Pete Kight inexorably altered the payments landscape through CheckFree, which remains one of fintech’s greatest success stories,” Steve Cotton, founder and CEO of Fi Navigator, said in the announcement. “Pete continues to advance innovation in fintech and possesses an uncommon ability to identify avenues of business model disruption.”
Fi Navigator said the funding comes at a time when the company is rapidly expanding its data and analytics offering, FIN Advisor and FIN Reporter, which serves financial institutions, vendors and consultants.
“FI Navigator dramatically advances industry analytics closer to automated consulting with instant, comprehensive assessments of any financial institution,” Kight said in the release. “That unique ability has the potential to transform the B2Bank sales and consulting models.”