Missouri bank's fintech arm raises $30 million

Central Payments in Sioux Falls, South Dakota, a subsidiary of Central Bank of Kansas City in Missouri, has raised $30 million in growth-equity capital. Central Payments, which operates a banking-as-a-service platform for fintechs and embedded finance businesses, said it plans to use the funds to expand staffing and further develop products and technology. Castle Creek Capital, based in Rancho Santa Fe, California, led the round with an assist from Launchpad Capital in Oakland, California. — Kate Fitzgerald