About TowneBank
TowneBank is a company based in Raleigh (United States) founded in 1999 was acquired by TowneBank in April 2017. It operates as a Commission-Based, and Brokerage / Intermediation. TowneBank has raised $5.53 million across 1 funding round from investors including TowneBank. TowneBank offers products and services including Personal Checking, Business Banking, Mortgage Services, and Wealth Management. TowneBank operates in a competitive market with competitors including Truist, Investec, Equity Bank, Citi and KeyBank, among others.
- Headquarter Raleigh, United States
- Stage Public
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Sectors
Financial Services
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Phone
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Website
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Social
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- Legal Name Townebank
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Products & Services of TowneBank
TowneBank offers a comprehensive portfolio of products and services, including Personal Checking, Business Banking, Mortgage Services, and Wealth Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Personal checking accounts are offered for daily transactions.
Business banking solutions are provided for corporate clients.
Mortgage services are available for home purchase financing.
Wealth management services are offered for asset growth.
Funding Insights of TowneBank
TowneBank has successfully raised a total of $5.53M through 1 strategic funding round. The most recent funding activity was a Series A round of $5.53 million completed in September 2010. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $5.5M
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First Round
First Round
(09 Sep 2010)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2010 | Amount | Series A - TowneBank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TowneBank
TowneBank has secured backing from 1 investor. Prominent investors backing the company include TowneBank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Commercial banking services are provided to businesses and individuals.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TowneBank
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - TowneBank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Townebank Comparisons
Competitors of TowneBank
TowneBank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Truist, Investec, Equity Bank, Citi and KeyBank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Wealth advisory and banking services are offered to clients.
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| domain | founded_year | HQ Location |
Global banking, investment, and wealth management services are offered worldwide.
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| domain | founded_year | HQ Location |
Commercial banking services are provided to businesses and individuals.
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| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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Regional bank
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| domain | founded_year | HQ Location |
Diversified financial services are offered through commercial banking operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Townebank
Frequently Asked Questions about TowneBank
When was TowneBank founded?
TowneBank was founded in 1999 and raised its 1st funding round 11 years after it was founded.
Where is TowneBank located?
TowneBank is headquartered in Raleigh, United States. It is registered at Raleigh, North Carolina, United States.
Is TowneBank a funded company?
TowneBank is a funded company, having raised a total of $5.53M across 1 funding round to date. The company's 1st funding round was a Series A of $5.53M, raised on Sep 09, 2010.
What does TowneBank do?
TowneBank is involved in offering a wide range of financial services, including personal and business banking solutions. Services such as checking accounts, savings accounts, and lending options are provided across various sectors. Additionally, mortgage services, wealth management, and insurance products are made available to clients. The company operates in multiple regions, focusing on community involvement and tailored financial solutions for both individual and corporate needs.
Who are the top competitors of TowneBank?
What products or services does TowneBank offer?
TowneBank offers Personal Checking, Business Banking, Mortgage Services, and Wealth Management.
Who are TowneBank's investors?
TowneBank has 1 investor. Key investors include TowneBank.