FintechOS, specialized in digital transformation acceleration of financial institutions, attracted a financing of €600000 from GapMinder VC. With this investment, the total capital attracted in the seed phase reaches €1.6M, transforming FintechOS in one of the best capitalized Romanian start-ups. The company intends to attract extra-funding of €400000 by the end of the year, reaching a seed level of €2M, anticipating an A series financing of €5M in 2019.
The investment will be used to achieve 2 strategic objectives in 2019: international development of the company in Western Europe and US and accelerating the development for the proprietary technologies based on AI.
FintechOS managed, in less then 12 months since launch, to attract clients like ERSTE, Vienna Insurance Group, TBI Bank, Orange Money, NN, Hyperion or Idea Bank, which already operate an actives portfolio of over €5BN through the platform. The company that offers to financial institutions in North America and Europe fast access to last generation tech, through which there can be launched new financial services, products, digital channels or experiences of interaction with clients, 10 times faster compared with a traditional environment of software development. By implementing FintechOS, clients are reporting operational costs reduced five times.
GapMinder’s investment offers us the possibility to consolidate our position on the most powerful financial markets in the world and comes as a recognition for FintechOS potential, soon after we became, last month, the first Romanian company integrated in Microsoft’s global acceleration program in London. I trust that, with GapMinder’s investment, we will be able to offer our clients important competitive advantages through faster implementation for more accessible and more customized services, via tech based on AI of last generation
We were impressed by the vision, ambition level and power of execution shown by FintechOS team and reflected in a significant increase of the income coming from clients in a vertical where it is a lot of competition on tech, that of financial services in CEE and in advanced markets such is UK. The approach and evolution of this company overlay perfectly with our investments strategy
Partner & Founder GapMinder VC
FintechOS launched, in October, the WOZ version of its platform, which accelerates the customization of banking and insurance processes and massively simplifies the implementation effort. The attracted financing allows the development of a new generation of the platform, code-named Genie, that will revolutionize the financial system by integrating AI tech with processes specific to banks and insurance companies. Genie will be presented to the developers communities in 2019’s summer and will be publicly launched in September next year