German fintech startup NDGIT raises €4 million in Series A round

Open banking platform NDGIT has raised €4 million in Series A funding round led by Capnamic Ventures and PROfounders Capital.

The Munich-based fintech startup develops APIs for the sharing of financial and customer data in compliance with PSD2 and open banking regulations. Its customers include banks like Hypothekarbank Lenzburg (Switzerland) and Bank für Sozialwirtschaft (Germany).

The new funds will be invested in further product development and growing the team to 50.

“With the support of our partners, we intend to accelerate our growth and keep on driving NDGIT’s development into a market-leading Open Banking platform in Europe,” said CEO Oliver Dlugosch.

“NDGIT defines the interface between banks and digital partners, thus enabling a whole range of new business models for fintechs, banks and insurers,” commented Capnamic partner Jörg Binnenbrücker. “NDGIT won us over with its rapid growth and the market potential for APIs and new technologies at banks and insurance firms.”