Three Friends Raised $15M to Help Community Banks Catch Up With Big Tech

As teenagers in Silicon Valley, Gautam Ajjarapu and Sameer Kapur were already trying to build things. They launched various side projects like a resume builder and an edtech platform. In college at the University of Illinois, Ajjarapu met Vishnu Chakroborty. The three of them shared a love for solving problems with technology. In 2021, they teamed up and started Glide.

Glide began as a digital bank with some crypto features. But the founders soon realized something more important, many small banks and credit unions in the U.S. were far behind in digital services. Their systems were slow, outdated, and hard to use. That’s where Glide saw a real opportunity.

In 2023, the team changed direction. Glide dropped the consumer banking idea and instead focused on building technology for credit unions and community banks. Today, it offers a simple, white-label digital banking portal that lets customers open accounts and apply for loans online. It’s fast, smooth, and built to plug into a bank’s existing systems.

By 2024, Glide had signed over 15 financial institutions and earned $2 million in annualized revenue. That same year, the company was listed in Forbes 30 Under 30 for finance, indicating that the startup’s quiet shift was working.

Today, the founders raised a $15 million Series A round, led by Acrew Capital. Other investors include Pear VC, Pathlight Capital, and several fintech leaders, such as Claire Hughes Johnson (former Stripe COO), Paul Williamson (former CRO at Plaid), and Arash Ferdowsi (Dropbox co-founder). This brings the total funding raised to $21 million.

What Glide Actually Does

Glide helps small banks and credit unions go digital, without needing to rebuild everything from scratch. Its tools let people open checking or savings accounts online in minutes. They can also apply for loans through a simple, mobile-friendly interface. All of this is branded under the bank’s own name.

The company connects directly with core banking systems, so banks don’t have to switch providers or change their existing software. Glide sits on top and makes everything work faster and look better.

It’s a big improvement for customers. Opening an account used to take 20 minutes or more, often requiring a trip to a physical branch. With Glide, it can be done in just three minutes on a phone or computer.

How the Funding Will Be Used

With the new funding, Glide plans to grow its team, especially in engineering and product. It will also add more features to its platform.

One focus is automation. Glide wants to make lending processes faster and easier for banks and their customers. It also intends to improve fraud detection and identity checks, using AI and more innovative software.

The company is adding support for more banking systems, so even smaller institutions with unique setups can use its tools. Glide also plans to expand into more use cases, like student loans and small business banking.

The goal is to help banks do more with less, offering better digital experiences without needing massive budgets or big tech teams.

“Our mission is to help credit unions and community banks fight back by modernizing their legacy banking infrastructure. We’ll be using this new capital to grow our incredible team and continue expanding our product offerings across the banking tech stack,” Gautam mentioned in a LinkedIn Post. He added, “We’re grateful for our incredible team members, customers, and investors who’ve helped build Glide from the ground up.”

Why It Matters

There are thousands of community banks and credit unions in the U.S. They play an essential role, especially in smaller towns and cities. However, many of them are still using software built decades ago, making it hard for them to compete with big banks or fintech apps.

The market is significant. U.S. credit unions and community banks hold over $5 trillion in assets. Many seek tech partners who understand their challenges and won’t force expensive changes. Glide’s platform is designed to plug in, not take over. For such credit unions and community banks, the company is building digital plumbing to modernize their services.