FintechOS raises $14 million to support global expansion
Romanian start-up will also invest ‘heavily’ in the continued development of more pre-built apps, services and solutions
Romanian startup, FintechOS has secured $14m (£12.7m, €15.1m) in a Series A investment led by the Digital East Fund of Earlybird Venture Capital and OTB Ventures, with participation from existing investors Gapminder Ventures and Launchub.
FintechOS allows banks and insurance companies to act and react faster than the new upstarts in the market with plug and play products.
The funding will be used to enhance the growth and expansion across Europe, and to expand into South East Asia and the US in 2020.
The company said it will also invest “heavily” in the continued development of more pre-built apps, services and solutions to break down the barriers to multi-channel customer service.
FintechOS’s technology platform lets traditional banks and insurance companies adapt to changing customer expectations, and match the speed and flexibility of Fintech startups with personalised products and services, in a lesser period of time.
The banks and insurance companies can then launch multi-cloud SaaS deployments, transitioning to the cloud and on-premises deployments, working alongside the existing technology infrastructure.
It now has existing partnerships with Microsoft, EY, Deloitte, Publicis Sapient and CapGemini allowing fast deployment in multiple markets.
Launched in 2017, FintechOS now has customers in more than 20 countries across three continents and grew its annual recurring revenue by 450 per cent during 2019.
The FintechOS portfolio of global clients includes ERSTE, Vienna Insurance Group, Orange Money, Hyperion Group, TBI Bank, Transylvania Bank and Idea Bank.
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