Romanian fintech startup, FintechOS, has just received €600.000 from the Romanian Venture Capital Fund, GapMinder, the fintech announced. Reportedly, the money will be used for expanding the services in Western Europe and America, but also to upgrade the fintech’s Artifical Intelligence technology.
“This investment allows us to consolidate our position on world’s most powerful financial centers and validates once again our potential, after last month FintechOS has become the first Romanian company onboard in the global Startup Accelerator Program of Microsoft UK. I’m confident that we will provide our customers with more competitive advantages, by making it even easier to implement fast, accessible and personalized financial services driven by AI technology”, says Teodor Blidăruș, CEO FintechOS.
What attracted GapMinder to invest in this FinTech are “FintechOs’ vision and roadmap”.
“We were impressed by FintechOS’ vision, drive and power to execute, which are
transparent in the outstanding growth of revenues from customers, especially since the competition is fierce in the financial services technology in markets like Central Europe or UK. FintechOS’ vision and roadmap are perfectly compatible with our investment strategy”, states Dan Mihăescu, Founding Partner GapMinder VC.
Founded in 2017 in Bucharest Romania, FintechOS is a technology company specialized in accelerating the digital transformation of top financial institutions worldwide. 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.
Apart from the latest seed investment made by GapMinder, FintechOS had so far raised investments of about EUR 1 million from various sources: banking, corporate (Softelligence) and angel investor (Sergiu Negut). This makes the total capital invested in this FinTech worth EUR 1.6 million and reportedly turns FintechOS in one of the best funded Romanian startups.
According to the company vision, FintechOS plans on raising another €400K as follow-up round until the end of 2018 in order to reach €2 million in seed stage investment and to pave the way for EUR 5 million series A investment during 2019.
To date, in less than 12 months since being founded, this Romanian startup has brought on board top-notch customers such as ERSTE, Vienna Insurance Group, TBI Bank, Orange Money, NN, Hyperion or Idea Bank, thus managing a portfolio of 5 EUR billion through the platform.
GapMinder Venture Partners, on the other hand, is a Romanian 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.