FintechOS

FintechOS Lands $60 Million for its Core Modernization Technology

FintechOS Lands $60 Million for its Core Modernization Technology
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, FintechOS, Funding
  • FintechOS received a $60 million investment, boosting its total funding to over $151 million.
  • FintechOS will use the new funds to accelerate its global expansion.
  • In the announcement, FintechOS revealed it experienced 40% year-over-year revenue growth in 2023 and said it expects to break even in 2024.

Financial product management platform FintechOS recently announced it received a $60 million Series B+ investment, boosting its total funding to more than $151 million. Molten Ventures, Cipio Partners, and BlackRock led the round, while existing investors EarlyBird VC, OTB VC, and Gapminder VC also contributed.

FintechOS serves up technology that helps organizations launch and manage financial products and services without having to replace their existing core infrastructure. The company offers low-code/ no-code tools to help organizations extend the capabilities of their existing core, launch new products, improve their customer experience, and optimize back-office workflows across lending, savings, insurance, investment, and embedded finance operations.

While FintechOS will use the funds to accelerate its global expansion, the New York-based company has already made significant progress towards global growth. The company operates globally, with a presence in Europe, North America, and Asia. FintechOS is available in the U.K., the U.S., Canada, Germany, France, the Netherlands, Romania, Spain, Italy, Poland, Belgium, Australia, Singapore, and others.

“Securing this investment is a testament to the confidence our investors have in our vision and execution,” said FintechOS Co-founder and CEO Teo Blidarus. “Our rapid growth and operational improvements reflect the demand for our next-generation financial product management solutions. We are revolutionizing the financial services industry by providing technology that enables core modernization and drives innovation.”

Since Blidarus co-founded FintechOS in 2017, the company experienced 40% year-over-year revenue growth in 2023 and has seen a 170% increase in operating margins. The company expects to break even in 2024. Following its recent $15 million funding round in early 2022, FintechOS has achieved over 300% growth, expanding its client base to 50 global clients. This growth includes high-profile additions such as Société Générale, Admiral, Benenden Health, Avant Money, and Vibrant Credit Union.

“FintechOS’s growth trajectory is a clear indicator of their potential,” said Cipio Partners Managing Partner Roland Dennert. “We are delighted to be part of this journey and look forward to seeing the transformative impact they will make in the financial services sector. Their commitment to modernization and innovation aligns perfectly with our investment strategy.”

As organizations struggle to adapt to changing consumer expectations and new technologies while maintaining their legacy core infrastructure, technologies such as FintechOS’ will see increasing growth. That’s because many traditional players in the space continue to operate using old computer languages such as COBOL, which was developed in 1959 and does not interface easily with modern fintech solutions.

Photo by Igor Starkov

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PwC and Microsoft Tap FintechOS for Digital Banking

PwC and Microsoft Tap FintechOS for Digital Banking
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, FintechOS, Microsoft, PwC
  • Financial services firm PwC and tech giant Microsoft are leveraging digital banking solutions provider FintechOS to create a digital banking solution.
  • The group aims to help banks adapt and modernize their operations to fit into the digital-first era.
  • “This will drive a massive improvement in time-to-value, and the extensibility of digital banking growth and expansion,” said PwC Partner Akhilesh Khera.

In the fintech industry, third party partnerships are king. So it’s not surprising to see the news that financial services firm PwC and tech giant Microsoft are tapping into the expertise of digital banking solutions provider FintechOS.

The trio announced their partnership, which will leverage FintechOS’ expertise, PwC’s digital banking prowess, and Microsoft’s Cloud for Financial Services technology to create a digital banking solution aimed at helping financial institutions adapt and modernize their operations to fit into the digital-first era.

For its part, FintechOS will be crucial in providing banking and investment, customer management, and integration and orchestration services. “We are delighted to be playing a key role in this ground-breaking initiative, as it demonstrates both the market-leading capability of our high-productivity fintech infrastructure and the strength of our relationship with PwC,” said FintechOS VP of Ecosystem Sales at EMEA Todi Pruteanu. “We are excited about the opportunity to work closely with and actively support PwC as this proposition revolutionizes banking across the globe.”

PwC Partner Akhilesh Khera said that the firm selected FintechOS for the company’s high-productivity infrastructure. “This will drive a massive improvement in time-to-value, and the extensibility of digital banking growth and expansion,” explained Khera.

U.K.-based FintechOS was founded in 2017 to help companies quickly launch and manage products and services across lending, savings, insurance, investment, and embedded finance. By helping financial services companies replace their core banking infrastructure operations, FintechOS also helps companies reduce costs, modernize operations, and deploy modern customer journeys that meet today’s standard expectations of great customer experience.

In March of this year, FintechOS launched a pair of accelerators to help financial institutions support their small business clients. Earlier this month, the company unveiled its spring release, which contained a digital retail mortgage and BNPL features. FintechOS demoed Sunglow, a banking super app at FinovateFall 2021. Teo Blidarus is co-founder and CEO.

Photo by Miriam Espacio

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FintechOS Unveils Accelerators to Enhance SME Mobile Onboarding and Lending

FintechOS Unveils Accelerators to Enhance SME Mobile Onboarding and Lending
By David Penn Posted on
Categories: Alumni News, Alumni profile, Daily news, FintechOS
  • FintechOS has launched a pair of accelerators – for mobile lending and mobile onboarding – to enable institutions to support small businesses.
  • The new offerings are built for speed, enabling companies to lower account opening times to less than 15 minutes.
  • Headquartered in London and founded in 2017, FintechOS made its Finovate debut last September at FinovateFall in New York.

Digital banking and insurance solution provider FintechOS unveiled a pair of new accelerators to help financial institutions better serve their SME clients. The offerings, announced this week, support SME mobile lending and onboarding, and enable institutions to reduce the amount of time required to open a current/checking account to less than 15 minutes.

Calling SMEs “the backbone of the global economy”, FintechOS CEO and co-founder Teo Blidarus decried the “lending gap” that has kept many small businesses from being able to secure the critical funding they need in order to grow. “Our high productivity fintech infrastructure, digital and core financial technology blocks combine here with a low-code approach to help institutions close the gap by rolling out tailored financial services experiences at speed.”

FintechOS’ accelerator for mobile onboarding gives financial institutions the ability to implement a modern UX. This will enable them to readily configure both design and content, as well as journey sequence and product logic. The accelerator for mobile lending allows SMEs to access the financing solutions they need in minutes with an out-of-the-box loan origination journey that can be easily configured and requires no technical expertise. Both accelerators embrace a mobile-centric approach that allows small businesses to use their device of choice for both onboarding and financing, which will help lower abandonment risk during the account opening and lending process.

The launch of FintechOS’ account onboarding and mobile lending accelerators comes just days after the company announced a collaboration with digital transformation consultancy Tesselate Group. Together, the two companies will work to bring innovative lending solutions and strategic planning to financial institutions. The partnership will focus on product verticals including digital journey accelerators, ecosystem connectors, and lean core components.

“We’re on a mission to enable companies to build innovative financial services and products at the speed the market requires,” FintechOS VP of Ecosystem Todi Pruteanu said. “Our ecosystem is fundamental to achieving this objective, and FintechOS is investing significantly to build an industry-leading partner infrastructure.”

In February, FintechOS forged a global partnership agreement with fellow Finovate alum Onfido. The pact integrates Onfido’s identity verification solution into FintechOS’ customer onboarding, lending, and claims management journeys. Two of FintechOS’ customer-centric platforms for banks and insurers – Lighthouse and Northstar – feature Onfido’s identity verification and liveness technology.

Among Finovate’s newer alums, FintechOS demoed its technology on the Finovate stage for the first time in September at FinovateFall. At the conference, FintechOS’ Paula Costea and Steve Rooney demonstrated Sunglow, the company’s “super app for banking.” Sunglow enables consumers to finance and book vacations in a seamless, end-to-end customer experience that factors in every component of the lending and booking processes.

Photo by Pixabay

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FinovateFall 2021 Sneak Peek: FintechOS

FinovateFall 2021 Sneak Peek: FintechOS
By oliver Posted on
Categories: Finovate, FinovateFall 2021, FinovateFall 2021 Sneak Peek, FintechOS

A look at the companies demoing at FinovateFall on September 13-15, 2021. Register today and save your spot.

FintechOS gives banks, insurers, and financial institutions a low-code platform to build customer-centric personalized experiences and journeys in weeks, not months.

Features

  • End-to-end solution bundling loans and vacation booking
  • Data-driven personalized journey
  • New customer referral

Why it’s great
FintechOS clients can build apps and experiences like Sunglow today, using low code technology to make development fast, easy, and cost-effective.

Presenters

Sergiu Negut, Chief Strategy Officer & Co-Founder
Negut was the first investor in FintechOS and coordinates finance, marketing, and strategy. He is a leader and entrepreneur with extensive business development experience.
LinkedIn

Steve Rooney, SVP North American Sales
Rooney is a global sales leader with over 25 years of experience propelling growth at various stages of the company trajectory.
LinkedIn

Paula Costea, VP Product Management, Solutions
Costea helps banks, insurers, and financial services institutions develop innovative digital-first customer-centric solutions that boost revenue, add valuem and win new customers.
LinkedIn

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