{"id":11290,"date":"2024-05-30T19:37:42","date_gmt":"2024-05-30T19:37:42","guid":{"rendered":"https:\/\/outsourcing-today.ro\/?p=11290"},"modified":"2024-05-30T19:37:43","modified_gmt":"2024-05-30T19:37:43","slug":"fintechos-secures-60-million-in-series-b-to-simplify-core-systems-modernization","status":"publish","type":"post","link":"https:\/\/outsourcing-today.ro\/?p=11290","title":{"rendered":"FintechOS Secures $60 Million in Series B+ to Simplify Core Systems Modernization"},"content":{"rendered":"\n

The latest funding round enables FintechOS to accelerate global expansion, making core modernization more accessible for the Financial Services industry<\/strong><\/p>\n\n\n\n

FintechOS, a leading end-to-end financial product management platform, today announced the successful completion of a $60 million Series B+ investment round. This round was led by Molten Ventures, Cipio Partners, and BlackRock, alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.<\/p>\n\n\n\n

The new funding round comes as FintechOS celebrates significant business achievements, including a 40% year-over-year growth<\/a> and a 170% increase in operating margins. The company is on track to achieve break-even in 2024, underscoring its robust business model.<\/p>\n\n\n\n

“Securing this investment is a testament to the confidence our investors have in our vision and execution. Our rapid growth and operational improvements reflect the demand for our next-generation financial product management solutions. We are revolutionizing the financial services industry by providing technology that enables core modernization and drives innovation\u201d, said Teodor Blid\u0103ru\u0219, Co-Founder and CEO of FintechOS.<\/strong><\/span><\/p>\n\n\n\n

Since its last funding round, FintechOS has experienced more than 300% growth, onboarding key customers such as Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Admiral, Benenden Health, Avant Money and Vibrant Credit Union in the banking and insurance sectors across the US, UK, Continental Europe, and APAC. This exponential growth highlights the global demand for FintechOS’s solutions.<\/p>\n\n\n\n

The most important markets for FintechOS are the UK, continental Europe and the US.<\/p>\n\n\n\n

In 2024, FintechOS has received accolades from leading industry analysts, including recognition from Gartner and Celent as a representative vendor in core banking, lending, and insurance technology. Notably, FintechOS is the only vendor worldwide to achieve this distinction across different financial services verticals.<\/p>\n\n\n\n

\u201cThis recognition from industry analysts highlights the effectiveness of our innovative approach. We are committed to helping financial institutions modernize their core systems and deliver superior customer experiences\u201d, Blid\u0103ru\u0219 added.<\/strong><\/span><\/p>\n\n\n\n

“FintechOS is at the forefront of transforming financial services through innovative technology. Its track record with major banks and insurers demonstrates a rare ability to drive significant change within these organisations. We are excited to support its continued growth and success\u201d, said Vinoth Jayakumar<\/strong>, Partner at Molten Ventures.<\/span><\/p>\n\n\n\n

\u201cFintechOS\u2019s growth trajectory is a clear indicator of their potential. We are delighted to be part of this journey and look forward to seeing the transformative impact they will make in the financial services sector. Their commitment to modernization and innovation aligns perfectly with our investment strategy\u201d, added Roland Dennert<\/strong>, Managing Partner at Cipio Partners.<\/span><\/p>\n\n\n\n

“We have been with the company and the team led by Doru Bli\u0111aru\u0219 and Sergiu Negu\u021b since the year GapMinder was founded, FintechOS being one of our first investments.Their significant growth in Romania and globally in an industry as demanding as financial services recognizes their development capacity and indirectly validates our investment thesis focused on business-to-business solutions for business automation, cyber security, fintech and data analytics”, stated Dan Mih\u0103escu<\/strong>, founding partner GapMinder Ventures.<\/span><\/p>\n\n\n\n

What are the plans for Romania  <\/strong><\/strong><\/p>\n\n\n\n

Romania represents an important part of the company’s revenues –  FintechOS has been working with major financial institutions in the local market for the last five years, including BRD – Groupe Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, CEC Bank, Banca Transilvania and OMNIASIG Vienna Insurance Group.<\/p>\n\n\n\n

“Romania and the whole of South-East Europe have enormous potential. Financial institutions in this region need technology providers to help them modernise their core banking systems to develop competitive financial products, reduce costs and attract and retain more customers. We plan to allocate funds to support customers in Romania and the region to migrate to the latest version of the platform, FintechOS 24, which is recognised by leading industry analysts including Celent and Gartner\u201d, explained Teodor Blid\u0103ru\u0219.<\/strong><\/span><\/p>\n\n\n\n

This funding round reinforces FintechOS’s position as a market leader and validates its approach to core modernization through next-generation financial product management. The company remains committed to empowering financial institutions to innovate and thrive in a rapidly evolving landscape.<\/p>\n\n\n\n

***<\/p>\n\n\n\n

About FintechOS
<\/strong>FintechOS is an end-to-end financial product management platform. With FintechOS, banks, insurers, and other financial institutions can extend their core business systems, often inflexible in the face of agility and versatility requirements, with flexible capabilities to address the entire product lifecycle \u2013 and provide employees with productive tools for defining, distributing, subscribing, servicing, and analyzing the performance of financial products. Over 50 clients worldwide \u2013 including Groupe Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, Admiral Insurance Group, and Howden Group \u2013 use FintechOS to modernize core infrastructure, expand into new markets, or address new business models such as embedded finance, avoiding lengthy implementations or risky migrations of core systems.<\/p>\n","protected":false},"excerpt":{"rendered":"

The latest funding round enables FintechOS to accelerate global expansion, making core modernization more accessible for the Financial Services industry FintechOS, a leading end-to-end financial product management platform, today announced the successful completion of a $60 million Series B+ investment […]<\/p>\n","protected":false},"author":2,"featured_media":11292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19,12,6,3,5,17,317],"tags":[239],"_links":{"self":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/11290"}],"collection":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11290"}],"version-history":[{"count":1,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/11290\/revisions"}],"predecessor-version":[{"id":11293,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/posts\/11290\/revisions\/11293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=\/wp\/v2\/media\/11292"}],"wp:attachment":[{"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/outsourcing-today.ro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}