London-based FintechOS, an end-to-end financial product management platform, announced on Thursday that it has secured $60M (approximately €55.4M) in a Series B+ investment round.
The latest funding round was led by Molten Ventures, Cipio Partners, and BlackRock, alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
The funding round comes as FintechOS celebrates significant business achievements, including a 40 per cent year-over-year growth and a 170 per cent 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,” says 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,” adds Blidarus.
FintechOS has seen over 300 per cent growth since its last funding round.
The company has onboarded 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.
FintechOS:Financial product management platform,
Founded by Sergiu Negut and Teodor Blidarus in 2017, FintechOS is an end-to-end financial product management platform.
FintechOS helps financial institutions, including banks, insurers, and others to improve their core business systems with flexible capabilities to support the entire product lifecycle and provide employees with efficient tools for managing financial products.
Over 50 clients worldwide – including Groupe Société Générale, Admiral Insurance Group, and Howden Group use FintechOS to modernise core infrastructure, expand into new markets, or address new business models such as embedded finance, avoiding lengthy implementations or risky migrations of core systems.
“This recognition from industry analysts highlights the effectiveness of our innovative approach,” Blidarus adds. “We are committed to helping financial institutions modernize their core systems and deliver superior customer experiences.”
The investor
Molten Ventures is one of Europe’s most active venture capital firms, developing and investing in disruptive, high-growth technology companies.
“FintechOS is at the forefront of transforming financial services through innovative technology,” said 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.”
Cipio Partners is an investment management and advisory firm for European growth capital & minority buyouts for technology companies.
Cipio Partners targets European growth-stage technology businesses with €10-50M in revenue and makes initial investments ranging from €5-15M.
“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.”
Read the orginal article: https://siliconcanals.com/news/startups/uks-fintechos-bags-55-4m/
