Cloud banking services provider nCino has completed a funding round led by T. Rowe Price Associates.

T. Rowe Price was joined by existing backer Salesforce Ventures in the fundraising.

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The company did not disclose the amount of investment secured in its press release. However, according to a SEC filing, the investment secured is $80m.

With the infusion, nCino intends to develop the nCino Bank Operating System and ramp up its research and development efforts.

The firm also plans a global expansion drive and headcount growth using the new funds.

An end-to-end SaaS solution, the nCino Bank Operating System combines various capabilities such as onboarding, loan origination, and deposit account opening.

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Several banks have tapped nCino Bank Operating System recently to boost their digital capabilities.

The banks include Allied Irish Banks (AIB), Columbia Bank, Westfield Bank, South State Bank, and S&T Bank.

nCino was recently also in the news for its acquisition of banking technology provider Visible Equity.

nCino CEO Pierre Naudé said: “We believe that a strong partner ecosystem is critical to maintaining a customer-centric approach in everything we do.

“This strategic fundraise aligns with that vision and mission by leveraging the investment approaches of two industry leaders to help us further scale our business and Bank Operating System to continue enabling financial institutions to provide the kind of personalised, streamlined and fast experiences that customers have come to expect in the digital era.”