FintechOS, a start-up specialized in accelerating the digital transformation of financial institutions worldwide, has just attracted EUR 1,1M post-seed investment in a new round led by GapMinder VC, with participation of LAUNCHub Ventures, Gecad Ventures and private investors.
This makes the total capital invested so far worth EUR 2.7 million and turns FintechOS in one of the best funded start-ups entering into global scaling stage. The company plans to continue its aggressive expansion and raising another EUR 8-10 million in a series A round by the end of 2019.
FintechOS has positively revised the 2019 financial targets, expecting over 400% YoY growth in annual recurring revenue from licenses. Implementation services are delivered through a portfolio of partners specializing in accelerating digital transformation, including Deloitte, KPMG and CapGemini.
FintechOS has recently strengthened its management team by onboarding Leon Stevens, former VP for Salesforce.com, an executive with 25 years of top management experience in companies like HP or IBM in the financial services area, to accelerate the development of global operations. The company estimates growing to 70 employees by the end of 2019, double compared to last year.
FintechOS technology grants financial institutions worldwide quick access to the latest technologies, self service and low code, empowering them to launch new services, products, digital channels or customer experiences up to 10 times faster than in a traditional software development setup, at a fraction of costs.
“This new investment round allows us to quickly deploy commercial teams in three strategic territories: UK, Benelux and DACH. Meanwhile, we’re going ahead full-throttle to further integrate AI technology within the FintechOS platform, because intelligent processing of massive amounts of data and quick customization of financial instruments are critical components for the whole financial industry. By the 3rd quarter this year, we’ll be announcing a technological revolution” stated Teodor Blidăruş, FintechOS CEO.
“We are happy with the fast pace of development of FintechOS, with the maturity, humbleness and the aggressive execution power of the team, and we continue to sustain their development and participate into the next financing rounds of their “pedal to the metal” rhythm“ stated Dan Mihaescu, Founding Partner GapMinder VC.
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