Digital transformation expert Fintech OSlanded $1.2 million (€1.1 million) in a post-seed investment round this week. The round, which brings the company’s total funding to $3 million (€2.7 million), was led by GapMinder VC. LAUNCHub Ventures, Gecad Ventures, and private investors also contributed.
Fintech OS will use the funds to expand its international presence. “This new investment round allows us to quickly deploy commercial teams in three strategic territories: U.K., Benelux and DACH,” said Teodor Blidăruş, FintechOS CEO. “Meanwhile, we’re going ahead full-throttle to further integrate AI technology within the FintechOS platform, because intelligent processing of massive amounts of data and quick customization of financial instruments are critical components for the whole financial industry.”
Founded in 2014, Fintech OS helps banks launch new technologies by offering them low-code solutions that facilitate fast and inexpensive deployment of new products and services. At FinovateEurope 2018, Blidăruş demoed how the company uses AI to facilitate financial services companies’ digital transformation.
By the end of this year, the company plans to have secured $9 million to $11.2 million (€8 million to €10 million) in Series A funding. Also in 2019, the company anticipates expanding its workforce to 70 employees and plans to see over 4X year-over-year growth in annual recurring revenue from licenses. Additionally, Blidăruş said, Fintech OS will be “announcing a technological revolution” in the third quarter of 2019.
As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.
BanQulaunches partnership with Anheuser-Busch InBev to revolutionize supply chain transparency in Zambia.
WorldRemit unveils new digital money transfer service for Kenya, Rwanda, Tanzania, and Uganda.
Forbes looks at the presence of fintech specialists – including representatives from Azimo and Standard Chartered – during UK Prime Minister Theresa May’s recent visit to South Africa, Nigeria, and Kenya.
Central and Eastern Europe
Entrepreneur.com featuresFintech OS in a discussion on fintech innovation in Romania.
Fortytwo Dataopens its first international office in Kiev, Ukraine.
Hungary to go live with instant payments in July of 2019.
Middle East and Northern Africa
Finastrajoins Bahrain FinTech Bay to promote fintech innovation in the Middle East.
FinTech Hive, the biggest accelerator in the Middle East, Africa, and South Asia introduces its incoming startup cohort – 50% of which is fintech.
Sarwa, a wealth tech innovator based in the UAE, raises $1.3 million in pre-Series A funding.
United Bank of Egypt leverages technology from Finastra to upgrade its core banking infrastructure.
Central and South Asia
India-based IT consultancy Wiproinks agreement with Alight Solutions.
Legendary investor Warren Buffett reportedly casts his gaze on India’s fintech market.
Tech in Asia features the 20 top-funded fintech companies in India.
Latin America and the Caribbean
NICEprovides its Desktop Automation solution to Latin American CRM and BPO solution provider, Liq.
Fintech Futures publishes a look at neobanks in Latin America.
LATAM Tech features Christine Chang of Startupbootcamp on the fintech startup scene in Latin America.
Fiserv to power Philippine Veterans Bank’s digital transformation.
Bangkok Bank invites fintech startups to apply to its 12-week, InnoHub accelerator program.
Standard Charteredappoints Deniz Güven as CEO for its virtual bank in Hong Kong.
Visionet Data International and SmartPesa bring mPOS payment service, Mobey, to Indonesia.
A look at the companies demoing live at FinovateEurope on the 6 through 9 of March 2018 in London. Pick up your tickets today and save your spot.
Fintech OS enables agile and modular digital transformation roadmaps for businesses in the financial industry. It combines deep fintech business model know-how with AI driven technologies.
Fast: 5x to 10x faster innovation through Robotic Assisted Development
Digital: modular, customer-centered fintech
Open: 100% open API connected
Why it’s great
Fintech OS serves as an innovation enabler, allowing companies to implement their tailored digital transformation roadmap either by using ready-made apps or by creating new ones with Fintech Designer.
Teodor Blidarus, CEO & Founder
Blidarus is an experienced IT entrepreneur with a deep understanding of banking, insurance, and digital transformation technologies (15+ years experience). He is president of the Romanian Software Industry Association (ANIS) LinkedIn