FintechOS, the global technology provider for banking, insurance and other financial services companies, announced today that it has raised USD 60 million (EUR51 million) in Series B funding to continue its development. Draper Esprit led the round. Early Bord, OTB Ventures, Gapminder VC and LauncHub also participated in the round.
GapMinder’s first investment in FintechOS was in 2018 when it led a $ 2 million Seed round. GapMinder also funded FintechOS in late 2019, when the technology company raised a $ 14 million Series A round.
The $ 60 million will be used to strengthen the company’s position in Europe and the United Kingdom and to support the company’s expansion in Asia-Pacific, the Middle East, Africa and North America. FintechOS plans to open offices in the US, Dubai and Singapore in the next year – the next year and a half. Also, the investment will be used for the development of FintechOS technology through solutions based on artificial intelligence and machine learning.
“GapMinder has been with us since the beginning, since 2018 when we were in the process of attracting a seed round. The fact that GapMinder finances our company for the third time makes us happy and confirms the trust the fund has in our team and vision”, says Teodor Blidăruș, CEO and co-founder of FintechOS.
“GapMinder is in the unique position of identifying best high-tech companies in early-stage in Romania and Central Europe and scaling them globally. One of the best examples is FintechOS, which evolved dramatically from a start-up into a growth stage company. FintechOS is operating on a paradigm shift – their products and services are transformative for the financial services industry and possibly even other sectors in the future. Its vision and state-of-the-art technology help banks and insurance companies drastically speed up implementing new and fully automated ways to deliver their services to their customers or interact with their employees and ecosystems. All of this while increasing ROI and easily interacting with existing systems. And 2020 was a year of extra-validations and accelerated growth for FintechOS, despite the unusual overall context. As «the first believers» in their team and company, we are happy and confident to follow on in Series B and see their international hyper-growth going further”, states Dan Mihăescu, Founder Partner of GapMinder.
Since its launch in January 2018, GapMinder Venture Partners has invested in 12 companies in Seed, Series A, and Series B and operated the Techcelerator acceleration program doubled by Pre-Seed investments in over 35 companies. The fund also reached a size of 50 million euros.