Romanian IT company FintechOS secures USD 60 mln funding to accelerate global expansion
FintechOS, a leading end-to-end financial product management platform originating in Romania, announced the successful completion of a USD 60 million Series B+ investment round.
The new funding round comes as FintechOS celebrates significant business achievements, including a 40% year-over-year growth and a 170% increase in operating margins. The company is on track to achieve break-even in 2024.
The round was led by Molten Ventures, Cipio Partners, and BlackRock, alongside existing investors EarlyBird VC, OTB VC, and Gapminder VC.
“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," said Teodor Blidăruș, Co-Founder and CEO of FintechOS.
Since its last funding round, FintechOS has experienced more than 300% growth, onboarding key customers such as Société Générale, Admiral, Benenden Health, Avant Money, and Vibrant Credit Union in the banking and insurance sectors across the US, UK, Continental Europe, and APAC.
FintechOS has also been working with major financial institutions in the local market for the last five years, including BRD - Groupe Société Générale, CEC Bank, Banca Transilvania, and OMNIASIG Vienna Insurance Group.
“Romania and the whole of Southeast Europe have enormous potential. Financial institutions in this region need technology providers to help them modernize 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 recognized by leading industry analysts including Celent and Gartner”, explained Teodor Blidăruș.
The most important markets for FintechOS at the moment, however, are the UK, continental Europe, and the US.
In 2024, FintechOS 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.
(Photo source: the company)
