News and Insight - FintechOS Raises $60M to Modernise Core Systems

New York City, NY, London, UK & Bucharest, RO – 30 May 2024

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. 

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, underscoring its robust business model. 

“Securing this investment is a testament to the confidence our investors have in our vision and execution,” said Teo Blidarus, Co-Founder and CEO of FintechOS. “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.” 

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. This exponential growth highlights the global demand for FintechOS’s solutions. 

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. 

“This recognition from industry analysts highlights the effectiveness of our innovative approach,” Blidarus added. “We are committed to helping financial institutions modernize their core systems and deliver superior customer experiences” 

“FintechOS is at the forefront of transforming financial services through innovative technology,” said Vinoth Jayakumar, Partner at Molten Ventures. “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.”  

“FintechOS’s growth trajectory is a clear indicator of their potential,” added Roland Dennert, Managing Partner at Cipio Partners. “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.”

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. 

For more information, please visit fintechos.com 

About FintechOS 

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 – and provide employees with productive tools for defining, distributing, subscribing, servicing, and analyzing the performance of financial products. Over 50 clients worldwide – including Groupe Société Générale, Admiral Insurance Group, and Howden Group – 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.