Romanian company FintechOS receives an investment of $ 14 million

By Jerom Bolt
The Romanian start-up of automated financial technology FintechOS received a Series A investment worth $ 14 million. The financing round was led by Digital East Fund from Earlybird Venture Capital and OTB Ventures, with the participation of current investors GapMinder and Launchub Ventures.
The FintechOS technology allows banks and traditional insurance companies to keep up with the ever-changing expectations of customers, and at the same time, with the speed, agility and flexibility of fintechs, companies whose business model is based on innovative technologies.
With the help of FintechOS technology and expertise, banks and insurance companies can launch at unprecedented speed – in weeks, instead of months or years – fully digital, hyper-personalized products and services based on complex data sources. The implementation of FintechOS technology can be realized as Software-as-a-Service, the company helping customers in their migration process to the cloud, but also locally (on-premises), the platform easily integrating with existing infrastructure technologies.
FintechOS offers its customers the opportunity to use data from over 150 sources, as well as 20 automated financial processes (based on artificial intelligence, such as KYC – Know Your Customer, Customer 360, pricing, risk analysis, etc.). FintechOS also provides a marketplace with over 50 open source applications created to facilitate the use of technology in onboarding processes of new customers, credit, savings, insurance or pensions.
The strategic partnerships with large companies such as Microsoft, EY, Deloitte, Publicis Sapient and CapGemini enable FintechOS technology to be introduced and adopted faster in many markets.
Founded in 2017 by Teodor Blidăruș and Sergiu Neguț, the company now has clients in over 20 countries on three continents. Its recurring annual revenue increased 450% in 2019. The additional capital obtained through the new financing round will be used to continue the company’s rapid growth rate and to expand its operations in Europe, but also in Southeast Asia and the United States. US. Also, FintechOS will continue to invest heavily in the development of more instantly accessible financial applications, services and financial solutions, to facilitate access to value added and personalized services across multiple channels.
“Our approach is at the customer’s center, not the technology. We created FintechOS with the aim of transforming the financial industry, giving banks and insurance companies the opportunity to act and react faster than fintech organizations, and to provide customers with a superior, contextual experience in a very short time. With FintechOS, banks and insurers can almost instantly create hyper-personalized services and significantly improved experiences for their customers, ”says Teodor Blidăruș, CEO and Co-Founder of FintechOS.
“It is the fastest growing story in which I have been involved so far, and a fascinating experience with Teodor Blidarus, whom I consider to be a great visionary. Beyond the success of FintechOS, I think we still have a validation that the ecosystem of entrepreneurs, business angels and investment funds is starting to work in Romania ”, adds Sergiu Negut, Co-Founder of FintechOS.
GapMinder is a venture capital fund of 40 million euros, which invests in cutting-edge technology companies created in Romania and Central Europe that are growing internationally, in the phase of Seed or Series A. GapMinder partners have a Direct approach as investors, helping companies grow through strategic consulting and direct involvement in operational organization, corporate governance and financial discipline.