The Romanian low-code platform FintechOS has raised a $60 million Series B+ investment round led by BlackRock, Cipio Partners, and Molten Ventures. The startup plans to use the funding to scale up internationally, TechCrunch informs.
About FintechOS
- FintechOS is a fintech startup founded in Bucharest that provides personalized and low-code digital infrastructure for banks, insurers, and other financial institutions. The startup’s “enablement platform” connects to core systems and ecosystem services, enabling banks to create, iterate, and refine digital banking and insurance products.
- The startup raised $14 million in 2015 and $60 million in 2021. Since its last round, FintechOS has experienced more than 300% growth. Among its customers are 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.
Teo Blidarus, CEO and co-founder of FintechOS
FintechOS we work across multiple product lines. We work across the full spectrum of products, from deposits to lending to mortgages, to insurance wealth. So our ability to transform is broader,
Teo Blidarus, CEO and co-founder of FintechOS, says.
Investment details
- This round was co-led by Molten Ventures, the London-based venture capital firm that develops and invests in disruptive technology companies, Cipio Partners, a VC fund targeting European growth stage technology businesses with €10-50 million in revenue and operating from offices in Munich and Luxembourg, and BlackRock, an American multinational investment company with $10 trillion in assets under management.
Securing this investment is a testament to the confidence our investors have in our vision and execution. 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,
Teo Blidarus added.
- The existing investors in the company such as EarlyBird VC, OTB VC, and Gapminder VC also participated in the round.
FintechOS plans to use the fresh funding to scale up its product offering internationally.
