FintechOS, a Romanian-born and London-based startup, has raised a £10.7 million Series A to expand its platform and app marketplace for financial institutions looking to digitalise. The round was led by Earlybird’s Digital East fund and OTB Ventures, with existing investors Gapminder and Launchub Ventures chipping in, as well. With FintechOS, traditional banks and insurers can launch data-driven, hyper-personalised digital products that match what modern consumers have come to expect from such services. The company's ethos is to make finance more transparent and accessible for everyone. “Our disruptive approach is customer, not technology driven,” explained CEO and co-founder Teodor Blidarus. “We created FintechOS to transform the financial industry, empowering banks and insurance companies to act and react faster and to create a smarter, slicker customer experience. As a result, hyper-personalised services and elevated customer experiences are now available almost plug and play.” The startup offers automation and ready-made solutions that cover nearly every corner of financial services and online banking. There are 150 integrations for data out-of-the-box, 20 automated processes for AI-enabled areas like pricing or risk analytics, plus over 50 open-source apps for client onboarding, lending, savings, insurance, pensions, and wealth management. “FintechOS’s technology is transformational in its ability to provide true end-to-end digital automation for all services and products that banks and insurance companies offer. This new technology is inexpensive and versatile, ultimately enabling massive cost savings and growth stimulators for financial institutions,” said Adam Niewinski of OTB Ventures. Those financial institutions are getting on board. The startup’s Annual Recurring Revenue grew by 450 percent in 2019. Founded in 2017 by Teodor Blidarus and Sergiu Negut, the fintech currently has customers in over 20 countries.
As for the Series A, the new investment will fund growth across Europe as well as expansion into Southeast Asia and the US. FintechOS will also continue to develop more pre-built apps and services to add to its plug-and-play marketplace.