FinTech Yapily has secured 拢10.6m funding.
The London-based start-up plans to drive open banking adoption across Europe following the Series A funding round.
The round was led by early Skype investor Lakestar with participation from existing investors HV Holtzbrinck Ventures and LocalGlobe, plus angel investors.
Founded in 2017, API tech provider Yapily connects FinTech platforms and boasts Fortune 500 companies and fast-growth tech firms as clients including Intuit QuickBooks.
Stefano Vaccino, founder and CEO of Yapily, said: 鈥淲e believe open banking is a force for good. Using our API and infrastructure, we鈥檙e not only providing our partners with strong and powerful connectivity to boost their user experiences.
鈥淏ut we鈥檙e also giving their customers, whether they be consumers or businesses, greater control of their finances, through the creation of products and services which can fuel greater financial management and accessibility – something that鈥檚 more essential than ever during this period of uncertainty.鈥�
During the last six months, the start-up鈥檚 monthly recurring revenue has grown by over 500%, it鈥檚 quadrupled its headcount in London to 45, and has also expanded into Italy, Ireland and France.
Stephen Nundy, Partner at Lakestar, said: 鈥淲ith pressure placed on the world鈥檚 economy due to the Covid-19 outbreak, we believe investors have an important role to play in continuing to support innovation to fuel business growth.
鈥淣ow has never been a more important time to drive financial wellbeing and goodwill, and Yapily鈥檚 infrastructure is best placed to enable and encourage this across the financial ecosystem.鈥�