LONDON, May 15, 2019 /PRNewswire/ -- FintechOS, a start-up specialized in accelerating the digital transformation of financial institutions worldwide, has just attracted EUR 1,1M post-seed investment in a new round led by GapMinder VC, with participation of LAUNCHub Ventures, Gecad Ventures and private investors. This makes the total capital invested so far worth EUR 2.7 million and turns FintechOS into one of the best funded start-ups entering the global scaling stage. The company plans to continue its aggressive expansion and raising another EUR 8-10 million in a series A round by the end of 2019.
FintechOS has positively revised the 2019 financial targets, expecting over 400% YoY growth in annual recurring revenue from licenses. Implementation services are delivered through a portfolio of partners specializing in accelerating digital transformation, including Deloitte, KPMG and CapGemini.
FintechOS has recently strengthened its management team by onboarding Leon Stevens, former VP for Salesforce.com, an executive with 25 years of top management experience in companies like HP or IBM in the financial services area, to accelerate the development of global operations. The company estimates growing to 70 employees by the end of 2019, double compared to last year.
FintechOS technology grants financial institutions worldwide quick access to the latest technologies, self service and low code, empowering them to launch new services, products, digital channels or customer experiences up to 10 times faster than in a traditional software development setup, at a fraction of costs.
"This new investment round allows us to quickly deploy commercial teams in three strategic territories: UK, Benelux and DACH. 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 customization of financial instruments are critical components for the whole financial industry. By the 3rd quarter this year, we'll be announcing a technological revolution," stated Teodor Blidăruş, FintechOS CEO.
"We are happy with the fast pace of development of FintechOS, with the maturity, humbleness and the aggressive execution power of the team, and we continue to sustain their development and participate into the next financing rounds of their "pedal to the metal" rhythm," stated Dan Mihaescu, Founding Partner GapMinder VC.
FintechOS (www.fintechos.com) is a high-tech company aiming to digitize financial services institutions. Its technology accelerates innovation initiatives within banks and insurance companies and empowers them to extend their digital distribution channels, as well as launch new financial products that are personalized, modern, and accessible.
Until the late seed investment round backed by GapMinder, FintechOS had already raised investments of about EUR 1 million from banking, corporate (Softelligence) and angel investor (Sergiu Negut) sources.
With a portfolio of EUR 5 Billion assets managed by FintechOS customers on the platform and operations on three continents, FintechOS is constantly ranked among the most important fintech players at CEE level. FintechOS is the first and only Romanian company enrolled in the global Startup Accelerator Program of Microsoft UK.
About GapMinder VC
GapMinder Venture Partners (www.gapminder.vc) is a 36MEur investment fund financing early stage companies with scale potential, as well as technology enterprises with regional, European and global ambitions. The investment fund values technology and services, sustainable differentiators, product oriented targets and team coherence. GapMinder invests primarily on Pre-Seed, Seed and Series A stages.
The Funding Partners have a direct approach as investors and actively sustain the organic growth of companies by bringing their contribution in operational management, corporate governance, financial discipline and management support.
GapMinder is co-financed by the European Fund for Regional Development via the Competitiveness Operational Program 2014-2020.
About LAUNCHub Ventures
LAUNCHub Ventures (www.launchub.vc) is a leading European early stage VC fund, based in Sofia, Bulgaria and investing in Southeastern Europe region and in founders from that region, based in the major tech hubs like Silicon Valley, London and Berlin. With €30M under management, LAUNCHub Ventures focuses on seed and pre-series A rounds, in verticals like (but not exclusively) SaaS, Enterprise Software, Fintech, Blockchain, AI, Healthtech.
About Gecad Ventures
Gecad Ventures (www.gecad.com) invests in start-up and expansion-phase hi-tech companies from CEE with meaningful prospects of scaling internationally, including verticals like Cybersecurity, Fintech, AI/ML, AR & VR, Transportation, IoT and Agritech. Previously Gecad Group, Gecad Ventures history spans for over 20 years and includes notable exits to Microsoft, Francisco Partners, Naspers, Fitbit.