FintechOS raises $1.2m to expand internationally
Digital transformation start-up FintechOS has landed $1.2 million in a post-seed investment round this week, reports Julie Muhn at Finovate.
The round, which brings the company’s total funding to $3 million, was led by GapMinder VC Launchub Ventures, Gecad Ventures, and private investors also contributed.
FintechOS will use the funds to expand its international presence.
“This new investment round allows us to quickly deploy commercial teams in three strategic territories: UK, Benelux and DACH,” says Teodor Blidăruş, FintechOS CEO. “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 customisation of financial instruments are critical components for the whole financial industry.”
Founded in 2014, FintechOS helps banks launch new technologies by offering them low-code solutions that facilitate fast and inexpensive deployment of new products and services.
By the end of this year, the company plans to have secured $9 million to $11.2 million in Series A funding. Also in 2019, the company anticipates expanding its workforce to 70 employees and plans to see over fourfold year-over-year growth in annual recurring revenue from licenses.
Additionally, Blidăruş says, FintechOS will be “announcing a technological revolution” in the third quarter of 2019.