SME currency transfer operator FX4Biz has raised EUR10 million and performed a business pivot to rebrand as IbanFirst, offering an online multi-currency platform in banking-as-a-service mode
Under the new brand, IbanFirst will provide a plug in for SMEs to gain access to a network of fintech startups offering an alternative to traditional banks for their day-to-day banking needs.
Founded in 2013 by the former head of Western Europe at Saxo Bank, Pierre-Antoine Dusoulier, IbanFirst is regulated and licensed by the Belgium National Bank, with licenses passported across Europe. The company promises to enables SMEs to open an Iban account within minutes and click through to a complete set of financial services in BaaS mode including credit, international payments and investment services.
Dusoulier says IbanFirst has signed it first partnership with French fintech startup YounitedCredit with more services such as invoicing, startup incorporation, and others to be added over the coming months.
The company is joining a range of other platforms offering similar plug-and-play bundles to Eu businesses, including Germany's solarisBank and Sutor Bank.