FintechOS is looking for an extra EUR 400,000 as a follow-up round by the end of 2018, to reach EUR2 million of seed capital, anticipating a Series A round of about EUR5 million in 2019.
The company has two objectives in 2019: its development internationally in Western Europe and the US, and the acceleration of the development of proprietary technologies based on artificial intelligence (AI).The latest funding allows for the development of a new generation platform, under the GENIE code name, which integrates AI technologies with processes specific to banks and insurers – to launch in September 2019.
FintechOS has clients like Erste, Vienna Insurance Group, TBI Bank, Orange Money, NN, Hyperion, and Idea Bank, operating a portfolio of assets of over EUR 5 billion.
The company says that by implementing FintechOS’s technology, customers report a reduction in operating costs of up to five times.
The company launched the WOZ version of the platform in October 2018, which accelerates implementation of bank and insurance processes.
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