FintechOS bags $60m in Series B+ investment round
FintechOS, an end-to-end financial product management platform headquartered in London, has completed a $60 million extension to its Series B funding round.
FintechOS founders Teo Blidarus (left) and Sergiu Negut (right)
The extension round was led by BlackRock, Cipio Partners, and Molten Ventures with additional participation from existing backers EarlyBird VC, Gapminder VC, and OTB VC.
Teo Blidarus, co-founder and CEO of FintechOS, describes this new investment, which supplements the $60 million it secured in its initial Series B funding round in 2021, as a “testament to the confidence our investors have in our vision and execution”.
Founded in 2017, FintechOS provides a platform built to help financial services firms with their core modernisation efforts.
It says its low-code tech “simplifies and accelerates the launching, servicing, and expansion of financial products and services”.
Its platform can be plugged in anywhere in the tech stack to work alongside existing and legacy tech that companies want to keep, allowing them to quickly launch new offerings without completely overhauling the core.
Additionally, the firm claims its “flexible capabilities” can augment the “entire product lifecycle” by providing employees with the tools needed for distributing, defining, servicing, subscribing, and “analysing the performance of financial products”.
The start-up currently serves over 50 clients globally, with key customers including Admiral, Avant Money, Société Générale, Benenden Health, and Vibrant Credit Union.
FintechOS claims to have experienced 40% year-over-year growth and a “170% increase in operating margins”, adding it is “on track” to achieve break-even in 2024.
According to TechCrunch, the new cash injection has been earmarked to drive the company’s international expansion plans.
