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Backbase valued at €2.5 billion on first private equity investment

Backbase valued at €2.5 billion on first private equity investment

Having bootstrapped to €200 Million in revenue, engagement banking vendor Backbase is turning to private equity investment for its next stage of growth, picking up €120 million in equity funding from Motive Partners.

The growth investment values Backbase at €2.5 billion.

Founded in 2003, the Amsterdam headquartered firm currently counts over 150 financial institutions around the world as customers for its whitelabel customer facing software, which enables banks to move away from a patchwork of legacy touchpoints to a single cloud-based application covering all stages of the customer lifecycle.

Jouk Pleiter, founder and CEO of Backbase, comments: “Today is a major milestone for more than 2,000 Backbasers and 150 customers around the world, to celebrate the incredible progress we made. With this partnership, we’re even better equipped to drive our engagement banking vision to the next level."

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