Wednesday, June 12, 2024
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FintechOS bags $60m in Series B+ investment round

FintechOS Secures $60 Million Series B Extension:

  • Funding Details:
    • Extended Series B round led by BlackRock, Cipio Partners, and Molten Ventures.
    • Additional participation from existing investors: EarlyBird VC, Gapminder VC, and OTB VC.
    • This extension supplements the initial $60 million raised in 2021.
  • Company Overview:
    • Founded in 2017, headquartered in London.
    • Provides an end-to-end financial product management platform.
    • Platform designed to help financial services firms with core modernisation.
    • Utilizes low-code technology for easy and rapid financial product launches.
  • Platform Features:
    • Integrates with existing and legacy systems.
    • Enhances entire product lifecycle: distribution, defining, servicing, subscribing, and performance analysis.
  • Clients and Growth:
    • Serves over 50 clients globally, including Admiral, Avant Money, Société Générale, Benenden Health, and Vibrant Credit Union.
    • Reported 40% year-over-year growth.
    • Achieved 170% increase in operating margins.
    • On track to reach break-even in 2024.
  • Future Plans:
    • New funding will support international expansion efforts.
  • Comments from Leadership:
    • CEO Teo Blidarus views the investment as a testament to investor confidence in the company’s vision and execution.

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