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FABRICK to acquire finAPI from SCHUFA and enter German market

Thursday 23 May 2024 09:47 CET | News

Fabrick has announced an agreement to acquire finAPI, aiming to drive forward the innovation of European businesses by enabling new Embedded Finance service models. 

 

According to the announcement, the transaction was carried out through an agreement with SCHUFA Holding AG, under which Fabrick acquired 75% of finAPI shares. The remaining 25% of the shares will stay with finAPI's two founders. By entering the DACH region, Fabrick seeks to expanding its presence beyond Italy, Spain, and the UK, marking a step forward.  


With a collective customer base of more than 800 clients and based on the combined total volume of account-to-account (A2A) payments processed by Fabrick and finAPI in 2023, the total payment volume exceeds 65 billion euros, with over 11 billion API calls. 

Fabrick has announced an agreement to acquire finAPI, aiming to drive forward the innovation of European businesses by enabling new Embedded Finance service models.

 

These figures are significant because payment transactions and their digital evolution are crucial for developing new service models in the B2B and B2B2C sectors. European companies across various industries recognise the growing demand for secure and flexible transactions. As a result, they are increasingly adopting Embedded Finance models to enhance economic efficiency within their organisations while providing their customers with a seamless payment experience. 

The transaction is still subject to approval by the German and Italian regulatory authorities. finAPI will remain as an independent, regulated company in Germany and will continue its strategic collaboration with SCHUFA to develop open finance on the German market. 

The combined portfolio of finAPI and Fabrick offers customers a broader range of centralised digital solutions. finAPI's customers will benefit from this merger, thanks to Fabrick's extensive European coverage and comprehensive portfolio of payment solutions. 

About finAPI 

Based in Germany and founded in 2008, finAPI seeks to develop solutions for the aggregation and analysis of financial data. The company is a player in the areas of Open Banking, data intelligence, KYC and payments. finAPI serves over 350 customers, including banks, financial service providers, fintech companies, insurance companies and software providers - not only in Germany, but also in Austria, the Czech Republic, Slovakia, and Hungary. 

Source: Link


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Keywords: Open Banking, embedded finance, banking, acquisition, expansion
Categories: Banking & Fintech
Companies: Fabrick, finAPI
Countries: Germany
This article is part of category

Banking & Fintech

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Fabrick

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