Bucharest-born FintechOS, a product management platform for financial services providers, has raised a $60m extension to its Series B — a $51m round it’d raised in 2021.
The deal was led by UK VC Molten Ventures, Munich-based growth investor Cipio Partners, and investment bank BlackRock.
The company says it has recorded 40% year-over-year growth and expects to break even in 2024.
What does FintechOS do?
FintechOS allows financial services providers to redefine their customer experiences by automating digital processes and creating personalised financial products and experiences. It assists legacy banks and insurers in accelerating their digital transformation, enabling them to build end-to-end digital products in weeks rather than months.
FintechOS’ tech has already been used by 50 banks and insurers across the US, Europe and Asia, including Société Générale, Admiral, Benenden Health, Avant Money and Vibrant Credit Union.
The company is co-headquartered in New York and London. It also has offices in Bucharest and Lisbon.
Where will the money go?
Teo Blidarus, FintechOS’ cofounder and CEO says he will invest the fresh money into “a sustainable business model”, since “operational efficiency is as important as innovation”. He stresses that he will spend the money on three areas: upskilling its staff, improving customer service and further developing the product.
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Who has invested?
- Molten Ventures, UK VC;
- Cipio Partners, Munich-based growth investors;
- BlackRock, a US investment bank;
- EarlyBird VC, Berlin-based early-stage VC;
- OTB VC, Warsaw-based VC;
- Gapminder VC, Bucharest-based VC.
Read the orginal article: https://sifted.eu/articles/romania-fintechos-round-profit-news/
