Business

FintechOS secures major Series A investment

FintechOS, a Romanian-founded company which develops next generation hyper-personalised, automated financial technology, has secured 12.7 million UK pounds of Series A investment. The funding was led jointly by Earlybird’s Digital East Fund and OTB Ventures, with participation from existing investors Gapminder Ventures and Launchub.

FintechOS empowers traditional banks and insurance companies to adapt to rapidly changing customer expectations and match the speed and flexibility of nimble technology driven competitors. Using the company’s technology, banks and insurers can launch data-driven, hyper-personalised digital products and services with unprecedented speed – weeks rather than months or years. FintechOS offers both multi-cloud SaaS deployments, helping client’s transition to the cloud, and on-premises deployments, working seamlessly alongside the existing technology infrastructure.

“Our disruptive approach is customer, not technology driven,” said Teodor Blidarus, CEO and co-founder of FintechOS. “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. As a result, hyper-personalised services and elevated customer experiences are now available almost plug and play.”

FintechOS offers more than 150 integrated sources of data out-of-the-box – from social and contextual to cloud and enterprise systems – and more than 20 automated financial processes for AI-enabled areas like KYC, Customer 360, pricing or risk analytics. Banks and insurance companies can also access a marketplace with more than 50 open source, ready-made apps for client onboarding, lending, savings, insurance, pensions and wealth management. Existing partnerships with Microsoft, EY, Deloitte, Publicis Sapient and CapGemini allow fast deployment in multiple markets.

Founded in 2017, the company now has customers in more than 20 countries across three continents and grew its Annual Recurring Revenue by 450 per cent during 2019. The additional capital raised will be used to continue the rapid growth across Europe and to expand to South East Asia and the US markets. FintechOS 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 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,” said Dan Lupu, partner at Earlybird.

Adam Niewinski, general partner at OTB Ventures, added: “We are driven to invest in technology companies uniquely positioned to grow exponentially. FintechOS’s technology is transformational in its ability to provide true end-to-end digital automation for all services and products that banks and insurance companies offer. This new technology is inexpensive and versatile, ultimately enabling massive cost savings and growth stimulators for financial institutions.”