FintechOS, a leading end-to-end financial product management platform, announced the successful completion of a €55.4 million Series B+ investment round. This round was led by Molten Ventures, Cipio Partners, and BlackRock, alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
The new funding round comes as FintechOS celebrates significant business achievements, including a 40% year-over-year growth and a 170% increase in operating margins. The company is on track to achieve break-even in 2024, underscoring its robust business model.
“Securing this investment is a testament to the confidence our investors have in our vision and execution,” said Teo Blidarus, Co-Founder and CEO of FintechOS. “Our rapid growth and operational improvements reflect the demand for our next-generation financial product management solutions. We are revolutionizing the financial services industry by providing technology that enables core modernization and drives innovation.”
Since its last funding round, FintechOS has experienced more than 300% growth, onboarding key customers such as Société Générale, Admiral, Benenden Health, Avant Money and Vibrant Credit Union in the banking and insurance sectors across the US, UK, Continental Europe, and APAC. This exponential growth highlights the global demand for FintechOS’s solutions.
In 2024, FintechOS has received accolades from leading industry analysts, including recognition from Gartner and Celent as a representative vendor in core banking, lending, and insurance technology. Notably, FintechOS is the only vendor worldwide to achieve this distinction across different financial services verticals.
“This recognition from industry analysts highlights the effectiveness of our innovative approach,” Blidarus added. “We are committed to helping financial institutions modernize their core systems and deliver superior customer experiences.”
“FintechOS is at the forefront of transforming financial services through innovative technology,” commented Vinoth Jayakumar, Partner at Molten Ventures. “Its track record with major banks and insurers demonstrates a rare ability to drive significant change within these organisations. We are excited to support its continued growth and success.”
“FintechOS’s growth trajectory is a clear indicator of their potential,” added Roland Dennert, Managing Partner at Cipio Partners. “We are delighted to be part of this journey and look forward to seeing the transformative impact they will make in the financial services sector. Their commitment to modernization and innovation aligns perfectly with our investment strategy.”
This funding round reinforces FintechOS’s position as a market leader and validates its approach to core modernization through next-generation financial product management. The company remains committed to empowering financial institutions to innovate and thrive in a rapidly evolving landscape.
Read the orginal article: https://www.eu-startups.com/2024/05/london-based-fintechos-bags-e55-4-million-to-simplify-core-systems-modernization-for-the-financial-services-industry/
