Dublin-listed venture capital firm Draper Esprit has led a $60 million (€50 million) funding round in FintechOS, which is a global technology provider for banks, insurers and other financial services companies.
Draper Esprit was supported in the round by existing investors Earlybird Digital East, Gapminder Ventures, LAUNCHub Ventures and OTB Ventures. FintechOS is to use the funds to cement its position in Europe and the UK, as well as fuel international expansion.
This includes new offices in the US, Dubai and Singapore, along with the addition of 120 new staff members resulting in a 40 per cent increase in overall headcount. FintechOS also plans to use the funds to expand its core systems capabilities in banking and insurance.
FintechOS chief executive Teodor Blidarus said: “When we launched FintechOS in 2017, we could already see existing solutions to digital transformation would struggle to deliver tangible results.
“By contrast, our unique approach has quickly inspired a sea-change in how financial institutions address digitisation and engage with their customers.
“Events over the last year have only increased pressure on our industry to evolve and as a result we’re seeing growing demand for our powerful platforms. Our latest round of funding will help us grow at the pace needed to improve outcomes for financial institutions and their customers globally.”