Denim Social, whose software helps financial institutions manage their social media presence, has raised a $5 million Series B round of financing, Clay & Milk reported. The round was led by two banking-focused investment funds — Fintop Capital and JAM Fintop BankTech. The funds will support product development and drive significant marketing and sales expansion for the company. The Series B round comes one year after St. Louis-based Gremlin Social and Des Moines-based Denim merged to form a new company, now called Denim Social. Read the InnovationIowa article here. The company also raised a $4 million Series A round last year, led by Hermann Cos. “Denim Social has a compelling vision for a more connected digital future for financial institutions,” Jared Winegrad, managing director at Fintop Capital, said in a release. “We’re proud to support their growth and expansion strategy.” With the funding round, Winegrad will be joining Denim Social’s board of directors.
