It has been a busy year of growth and expansion for FintechOS. At the beginning of 2021, our headcount stood at 200 people. But we have more than doubled the size of our international workforce during the past 12 months and there are now 400 FintechOS employees working from locations around the world.
Recruiting and onboarding such a large number of people is a significant task that has brought tremendous change to the company. We have welcomed new team members at all levels of the business and from all regions, which has increased our diversity and added new voices to the conversation.
Our progress can be summed up in five themes: people, customers, product, investments and expansion. Read on to find out what we achieved over the last year and hear about our plans for 2022.
Doubling the team while maintaining a healthy attitude and a good company ethos is a tremendous achievement which puts us in a great place as we begin a new year. In 2020, we were in start-up mode. We switched to scale-up in 2021 and that momentum will carry us forward into 2022.
We have assembled focused financial service engineering teams at a time when businesses across the world are struggling to onboard engineers and tech experts. That is a big deal which helps us get closer to the vision of our product, which is a vertical unified platform across financial services.
Our executive team has also grown. We have now attracted some high-achieving executives who joined us from top global companies because they wanted to be part of the FintechOS story.
When Covid first struck, everyone in the industry was caught off guard. But the work we did in terms of building culture and playing the long game helped us build and scale without diluting our values or mission. Irrespective of results, it is culture and strong leadership which makes companies go further and faster.
We have welcomed new team-members at all levels of the business and from all regions, which has increased our diversity and added new voices to the conversation.
We have made good progress on market penetration in the past year. FintechOS is now working with three tier one insurance companies in Western Europe and we are setting ourselves up to keep growing in Europe and US next year.
In banking, we have worked with globally recognised brands such as Oney and Societe Generale. We have diversified our portfolio in banking and financial services, not just geographically but in terms of use cases. Now we are involved with in-demand sectors including embedded finance, point of sale cash lending, personal finance and mortgages. We now have an impressive set of use cases and I am bombastic about making them count in 2022.
We have been bold in reorganising our R&D function, bringing in expertise at all levels, from tech to product management or design.
The new expertise has allowed us to reshape key assets like Studio and The Academy. We have modularized our R&D operation and streamlined the team.
The inclusivity and diversity of our R&D department also deserves to be celebrated. We allow our clients to build unified banking, insurance and embedded finance solutions with less investment and maintenance as well as a better total cost of ownership. The diversity of our teams sets us up for greater collaboration and gives us a wider pool of talent to tap into.
I am very excited about the FintechOS 22 release in January, which brings sought-after capabilities to our platform. With FintechOS 22, we are delivering a high productivity financial infrastructure platform’ that makes it easier for internal teams to launch digital projects.
FintechOS 22 combines composable digital and core business blocks with a no-code/low-code paradigm, giving institutions the ability to modernize legacy systems and launch new, differentiated digital products at speed.
We have formed important partnerships throughout 2021. One of the most strategic partners was with Molten Ventures – previously called Draper Esprit – which led our $60 million Series B funding round. It has already invested in companies including Form3, ICEYE, Revolut, Thought Machine, and UiPath, so is an important partner for FintechOS. The fact that Molten decided to double down and invest in FintechOS shows we have a great future ahead of us.
In 2021, we also partnered with the World Bank’s IFC, an organisation that is perfectly in tune with some of our core missions, such as facilitating financial inclusion. We are investing in a number of emerging markets as well as helping start-ups and incumbents address new customer segments including the unbanked and underserved. We aim to make the world better by helping fintech to become more inclusive and enabling clients to transform faster and have a bigger impact. We are all about empowering makers who want to change the world, so this partnership feels like a perfect fit.
Our expansion into the US continued in 2021 and we added many important new members to our team, such as Steve Rooney, Senior VP of North America. We have a really good story to tell for the US market and are very pleased to have the right team in place to enable our growth. Over the past year, we have spent a lot of time working on our product and building the foundations for expansion. This means 2022 will be a big year in which we continue to grow and work towards Series C funding.
In 2020, we were in start-up mode. We switched to scale-up in 2021 and that momentum will carry us forward into 2022.
Three trends will be important over the next 12 months: core modernisation, embedded finance and low code/no code. We are the only player that is credible in these areas, with the solutions to operate across all of them. It is going to be another important year for FintechOS and I’m looking forward to what’s ahead.
Find out more about the FintechOS technology and mission
