FintechOS Announces $14 Million Funding Round

Home » FinTech » FinTech News » FintechOS Announces $14 Million Funding Round

FintechOS Announces $14 Million Funding Round

With as much attention as Silicon Valley startups get, it can be easy to forget that FinTech is far from just an American phenomenon. In fact firms in Europe, Asia, and beyond have certainly done their fair share or innovating and, yes, fundraising. Among them is Romania-based and aptly-named FintechOS.

This week the company announced it had raised £10.7 million ($14 million) in its latest funding round. The Series A was led by Earlybird’s Digital East Fund and OTB Ventures while previous investors Gapminder Ventures and Launchub participated once again. FintechOS says these funds will help fuel an expansion into South East Asia and the United States as well as support continued growth in their native Europe. Operating in more than 20 countries spanning three continents, the company also has partnerships with Microsoft, Deloitte, Ernst & Young, CapGemini, and others.

Unlike many startups in the space, FintechOS isn’t so much set on disrupting the old guard. Instead it aims to help established banks and businesses keep up with the quickly-evolving landscape. As part of this, the company offers a number of digital products and services that they say banks can launch in “weeks rather than months or years.”

In a press release announcing the funding round, FintechOS CEO and co-founder Teodor Blidarus said of the company, “Our disruptive approach is customer, not technology driven. We created FintechOS to transform the financial industry, empowering banks and insurance companies to act and react faster and to create a smarter, slicker customer experience.” He added, “As a result, hyper-personalised services and elevated customer experiences are now available almost plug and play.” Meanwhile, speaking to the reason for Earlybird’s investment, the firm’s partner Dan Lupu said, “FintechOS is a pioneer in a booming market, with a vision to transform the way financial institutions react to market and regulatory changes. We are proud to become part of a journey that will shape the future of financial services.”

Of course, while their direct focus on creating tools for existing financial players is somewhat novel, FintechOS certainly isn’t the first FinTech to work with more traditional firms. Beyond a myriad of partnerships that have formed over the past several years, online lenders such as OnDeck and Biz2Credit have also created SaaS tools that can be deployed by other institutions. Still, a FintechOS expansion into the U.S. could certainly be big news — making this one company to keep an eye on in the coming months.

Comments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

NASA Announces $51 Million in Small Business Investments

Recently, the world watched as the results of a major private-public partnership took to the sky. On May 30th, the SpaceX Crew Dragon spacecraft carried two NASA astronauts from Cape Canaveral, Florida to the international space station. On the heels of that accomplishment, NASA has revealed the next round of companies...

Uber to Acquire Postmates for $2.65 Billion

After the chance to purchase one popular delivery service fell through for the company, Uber is on to the next. This week the ride-sharing company announced that it intends to acquire Postmates to further grow its own delivery offerings, including Uber Eats. The all-stock transaction is valued at approximately $2.65...

Top 10 Personal Finance Articles of the Month — June 2020

It’s time again for one of my favorite features here on Dyer News: a look at the top 10 personal finance articles of the month. First up this month, following the outrage and hard conversations that have arisen following the death of George Floyd and other Black people in this...