FintechOS lands EUR 600K seed investment from GapMinder VC
FintechOS, a high-tech company specialized in accelerating the digital transformation of top financial institutions worldwide, has just attracted EUR 600K seed investment from GapMinder VC. This makes the total capital invested so far worth EUR 1.6 million and turns FintechOS in one of the best funded Romanian startups. FintechOS plans on raising another EUR 400K as follow-up round until the end of the year to reach EUR 2 million in seed stage investment and to pave the way for EUR 5 million series A investment during 2019.
The investment targets two strategic objectives in 2019: expanding the international footprint in Western Europe and Americas, as well as accelerating the development of FintechOS AI proprietary technology.
FintechOS has succeeded to bring on board top tier customers such as ERSTE, Vienna Insurance Group, TBI Bank, Orange Money, NN, Hyperion or Idea Bank, managing a portfolio of 5 EUR billion through the platform, in less than 12 months since being officially established.
The FintechOS platform grants rapid access to latest technologies, empowering financial institutions to launch new services, products, digital channels or customer experiences up to 10 times faster than in a traditional software development setup. Financial companies running on FintechOS platform also achieve up to 5 times reduction in operational costs.
“This investment allows us to consolidate our position on world’s most powerful financial centres and validates once again our potential, after last month FintechOS has become the first Romanian company onboarded in the global Startup Accelerator Program of Microsoft UK. I’m confident that we will provide our customers with more competitive advantages, by making it even easier to implement fast, accessible and personalized financial services driven by AI technology”, says Teodor Blidăruș, CEO FintechOS.
“We were impressed by FintechOS’ vision, drive and power to execute, which are transparent in the outstanding growth of revenues from customers, especially since the competition is fierce in the financial services technology in markets like Central Europe or UK. FintechOS’ vision and roadmap are perfectly compatible with our investment strategy”, states Dan Mihăescu, Founding Partner GapMinder VC
The company launched in October a new version of the FintechOS platform, named ‘WOZ’, which speeds up the configuration of banking and insurance processes and massively reduces the implementation effort. The newly raised investment enables the development of a new generation of FintechOS platform, with the code name ‘GENIE’, aiming to revolutionize the financial services by incorporating AI technology in specialized banking and insurance processes. The ‘GENIE’ version of FintechOS platform is to be first revealed to the developer community during summer of 2019 and will be officially launched in September 2019.
FintechOS is a high-tech company aiming to digitize financial services institutions. Its technology accelerates innovation initiatives within banks and insurance companies and empowers them to extend their digital distribution channels, as well as launch new financial products that are personalized, modern, and accessible. With a portfolio of EUR 5 Billion managed assets and operations on three continents, FintechOS is constantly ranked among the most important fintech players at CEE level. FintechOS is the first and only Romanian company enrolled in the global Startup Accelerator Program of Microsoft UK.
About GapMinder VC
GapMinder Venture Partners (www.gapminder.vc) is an investment fund financing early stage companies with scale potential, as well as technology enterprises with regional, European and global ambitions. The investment fund values technology and services, sustainable differentiators, product oriented targets and team coherence. GapMinder invests primarily on Pre-Seed, Seed and Series A stages.
The Funding Partners have a direct approach as investors and actively sustain the organic growth of companies by bringing their contribution in operational management, corporate governance, financial discipline and management support. GapMinder is co-financed by the European Fund for Regional Development via the Competitiveness Operational Program 2014-2020.