Romanian FintechOS gets EUR 600,000 as it lines up EUR 5 mln Series A

Friday 23 November 2018 14:11 CET | News

Romanian digital banking platform FintechOS has received EUR 600,000 in financing from Gapminder VC, taking its total up to EUR 1.6 million.

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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Keywords: FintechOS, Romania, digital banking, financing , Gapminder VC
Countries: World

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