The round was led by Draper Esprit, a leading venture capital firm whose investments include Form3, ICEYE, Revolut, Thought Machine, UiPath. Existing investors Earlybird Digital East, Gapminder Ventures, LAUNCHub Ventures, and OTB Ventures also participated in the round.
“We have worked more than six months on this round of financing, talking to over one hundred investors. We were happy to be courted by several investment funds. We are ready to move beyond Europe. We have clients on other continents but most our clients are in Europe and our offices are in Europe. We plan to expand to the USA and Southeast Asia,” said Sergiu Negut, co-Founder, CFO & COO at FintechOS.
The funds will be primarily used to cement the company’s position in Europe and the UK and fuel international expansion to target financial institutions in Asia-Pacific, Middle East and Africa, and North America. This includes 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.
FintechOS also plans to use the funds to expand its core systems capabilities in banking and insurance, strengthening the low-code self-service proposition and personalization through AI and machine learning in customer journeys and product and services offerings.