Wilmington-based banking software company nCino LLC has completed a successful initial investment round, according to company officials.

In a document filed with the SEC on Tuesday, nCino, a spinoff of Live Oak Bank, stated that 71 investors purchased more than $7.5 million in stock. The smallest investment by an outside investor was $1,485.

“nCino is pleased to have raised $7.54 million in its initial investment round,” company CEO Pierre Naudé said in a statement. “The investment round, which was over-subscribed, is further validation by the marketplace of the nCino business model and Bank Operating System solution. The funding will further accelerate our growth and solidify our place in the market.”

The software company, launched as a separate entity in early 2012, was developed by Live Oak Bank as a way to expedite the bank’s ability to evaluate, make and service SBA loans in niche professional markets across the U.S.

nCino currently is marketing its products to other banks as well. Using the Salesforce.com platform, nCino’s Bank Operating System is designed to provide transparency in loan production and improve operating efficiencies for small- to mid-sized financial institutions.