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BaaS startup BKN301 raises EUR15m

BaaS startup BKN301 raises EUR15m

BKN301, a digital payments and Banking-as-a-Service startup, has raised EUR15 million in a Series A funding round led by Abalone Group.

The round, which values BKN301 at EUR63 million, was joined by PayU, Azimut Digitech Fund, CRIF, and GNB Swiss Investments.

Launched last year, BKN301, through its BaaS and digital e-money platform model, enables third parties to offer financial, payment, and token issuance services. The company is focusing on the fast-growing markets of Africa, the Middle East, and Eastern Europe.

Stiven Muccioli, CEO, BKN301, says: "Closing this new round based on the support of highly-experienced investors confirms the validity of our project, which has always focused on fast-growing markets.

"Thanks to this massive recognition, we will continue to provide, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential.

"Being characterized by a low level of banking services, they can significantly benefit from adopting new banking technologies — such as digital payments, innovative blockchain services, cryptocurrencies, and digital assets."

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