A low-code听FinTech services provider has been backed with 拢43 million Series B funding听led听by听Draper Esprit.听
Fintech OS has seen rapid adoption around Europe听as the听technology provider for banks, insurers and other financial services companies.听
It says its self-service approach augments legacy systems, allowing institutions to build, test and scale new digital products and services in weeks rather than months.听
Draper Esprit was supported in the round by existing investors Earlybird Digital East,听Gapminder听Ventures,听LAUNCHub听Ventures, and OTB Ventures.听听
London-headquartered FintechOS听will use the funds to cement its position in Europe and the UK, as well as fuel international expansion,听including听new offices in the USA, Dubai, and Singapore, along with the addition of 120 new staff members resulting in a 40% increase in overall headcount.听听
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鈥淲hen we launched听FintechOS听in 2017, we could already see existing solutions to digital transformation would struggle to deliver tangible results,鈥� said Teodor听Blidarus, co-founder and CEO at听FintechOS.听
鈥淏y contrast, our unique approach has quickly inspired a sea-change in how financial institutions address digitisation and engage with their customers. Events over the last year have only increased pressure on our industry to evolve and as a result we鈥檙e seeing growing demand for our powerful platforms.听听
鈥淥ur latest round of funding will help us grow at the pace needed to improve outcomes for financial institutions and their customers globally.鈥�听
Draper Esprit鈥檚听portfolio includes听FinTechs听Thought Machine, Form3, Ravelin,听PrimaryBid听鈥� which recently joined Tech Nation鈥檚 Future Fifty cohort –听Freetrade听and听Revolut.听
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Vinoth Jayakumar, Partner at Draper Esprit,听commented:听鈥淲hen we met Teo and Sergiu, we were immediately convinced of their vision: a data led, end-to-end platform, facilitated with a low-code/no-code infrastructure.听听
鈥�Incumbent financial services firms have cost-to-income ratios up to 90%, so we see a huge and increasing need for infrastructure software that allows digitisation at speed, ease and lower cost.听听
鈥�Draper Esprit builds enduring partnerships; with the team at听FintechOS听we hope to build an enduring fintech company that will dramatically change financial services experiences for people all over the world.鈥�听