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Open Banking platform Yapily raises $13 million

Open Banking platform Yapily raises $13 million

Open API platform Yapily has raised $13 million in a Series A funding round led by Lakestar.

Yapily boasts Fortune 500 companies and fast growth fintechs as clients, including Intuit QuickBooks, where Yapily’s API is used by the accounting software provider to help thousands of its SME customers access insights and financial information from bank accounts in UK, France & Ireland. Other customers and partners of Yapily include IBM and GoCardless.

Founded by ex-Goldman Sachs employee Stefano Vaccino, the company has raised $18m funding to date. Over the last six months monthly recurring revenue has grown over 500%, with the firm quadrupling its headcount in London to 45 and expanding into Italy, Ireland and France.

Existing investors HV Holtzbrinck Ventures and LocalGlobe joined Lakestar in the latest round of financing. Angel investors also include TransferWise's Taavet Hinrikus, Twilio CTO Ott Kaukver, former UniCredit deputy CEO Roberto Nicastro, and Frank Strauss, former CEO of Deutsche Postbank.

Comments: (1)

Steve Ellis
Steve Ellis - Finextra Research - London 06 April, 2020, 19:48Be the first to give this comment the thumbs up 0 likes

Good news for Yapily. Well done.

Anecdotally, I'm hearing that deals are separating into two streams. Anything in progress is getting pushed over the line to completion - there's a couple more closing soon. But anything yet to be significantly advance is getting parked up.