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Yapily expands into Germany

Yapily expands into Germany

Open banking connectivity firm Yapily is expanding from the UK to Germany, where it has appointed former PayPal and finleap executive Chris Scheuermann as commercial lead.

Yapily is already helping German businesses scale internationally, while also supporting international businesses entering the German market.

The on-the-ground operation will be supported by a local team and API platform at a time of skyrocketing interest in Open Banking services across Europe.

Yapily claims 80% coverage of European banks and has won integration deals with a host of fast growth fintechs and Fortune 500 companies across Europe including American Express, IBM, BUX 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.

Expounding on the German launch, Vaccino says: “Germany is a source of innovation and has always been a key hub for banking and financial services. With this strategic market entry we will further drive open banking adoption and its benefits to financial sectors including payments, lending and accounting software."

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