Bucharest-based FintechOS raises USD 14 million to continue its rapid growth across Europe and to expand to South East Asia and the US markets. FintechOS will also invest in the continued development of more pre-built apps, services and solutions to break down the barriers to multi-channel customer service. The company focuses on hyper-personalised and true end-to-end automated financial technology, non-expensive and easily integrated with existing systems, allowing financial products and services delivery at unprecedented speed – weeks rather than months or years.
The financing was been led by the Digital East Fund of Earlybird Venture Capital and OTB Ventures, with follow-on participation from existing investors Gapminder Ventures and Launchub. In 2018, the company registered 1.1 million Euros in revenue. This year’s target is expected to exceed this figure by over 450%, with similar growth predicted in 2020.
According to Teodor Blidăruş, CEO and co-founder of FintechOS, demand for technology that allows banks, insurers and other financial services companies to transform the digital customer experience has never been higher, looking at the success of disrupting and innovating brands like Monzo or Revolut.
“Our disruptive approach is customer, not technology driven. We’ve created FintechOS to transform the financial industry, empowering banks and insurance companies to act and react faster than fintechs, to create a smarter, slicker customer experience. As a result, hyper-personalised services and elevated customer experiences are now available almost plug and play.”, states Teodor Blidăruș, CEO and Co-Founder of FintechOS.
FintechOS technology empowers traditional banks and insurance companies to adapt to rapidly changing customer expectations, and match the speed and flexibility of Fintechs, their new and technology driven competitors. Their platform provides end-to-end digital automation for all insurance and banking products, in an inexpensive way and working seamlessly alongside the existing technology infrastructure. The platform can be deployed both as part of multi-cloud SaaS, helping clients transition to the cloud, and on premises deployments.
„FintechOS is changing paradigms. It is transformative for the financial services industry, and possible other industries in the future. Its vision and state of the art technology help today banks and insurance companies to dramatically speed up the implementation of new and fully automated ways to deliver their own services to their customers or to interact with their own employees and ecosystems. And all these in a non-expensive way and easily interacting with existing systems. For the Series A investment round we are confident to follow-on and see their international hyper-growth going further”, declared Dan Mihaescu, Founding Partner of GapMinder. In 2018, GapMinder led the seed round of investment for the same company, and made a follow-on investment at the current round.