Ohio’s first female-led bank Fortuna nears launch after raising $20.7m
Fortuna Bank, an Ohio-based start-up, is preparing to open its doors after securing $20.7 million in funding and receiving conditional approval from the FDIC.
Fortuna gears up for launch with $20.7 million round
The new financial institution, founded by board chair Lisa Berger and CEO Ilaria Rawlins, a former First Financial Bank executive, will be majority female-owned and says on its website it will offer “boutique banking for small businesses”.
The bank is currently offering investment opportunities through the tax-deferred Self-Directed IRAs (SDIRAs) promoted on its website.
Announced via the company’s LinkedIn page, Fortuna recently closed a $20.7 million funding round to support its market debut.
While the official launch date is not yet determined, the firm states its “facilities are rapidly taking shape and we’re on track to meet our September occupancy date, perfectly aligned with a fall 2024 opening”.
In addition, the statement declares that the bank’s core processing system is “under construction”, and that Fortuna is to “introduce key individuals” in the coming month.
In comments made to American Banker, Rawlins reveals that the leadership positions being filled include finance chief and chief credit officer.
Moreover, the CEO reports that the recent round attracted 340 shareholders, over 75% of whom were women, with a minimum investment of $10,000. The raise garnered interest from both individuals and corporations, including Ohio-based Park National Bank and OhioHealth.
Fortuna joins a growing list of banking start-ups on the rise this year, including Greece’s Snappi and Australia’s Volans.
Fintech Futures contacted Fortuna for more information regarding its upcoming launch.
