San Marino-based BKN301, a fintech company that develops payment services and Banking-as-a-Service features, announced on Monday that it has raised € 15 million in a Series A funding round.
The financing comes just a few months after the company ended its seed round. The company now has a value of € 63 million.
Salesforce’s report on the digital skills of the Dutch workforce
Has the Dutch workforce mastered all digital skills? Find out
Has the Dutch workforce mastered all digital skills? Find out Show less
BKN301 states that they will use the funds to further develop their open banking platform’s technological infrastructure to sustain growth in rapidly growing markets such as Africa, the Middle East and Eastern Europe.
Investors supporting this round
The investment was led by the Swiss fund ABALONE Group with the participation of the payment service provider PayU.
The round was also joined by the Azimut Group Digitech Fund, a venture capital fund created by Azimut Libera Impresa as part of a partnership with GELLIFY; CRIF, a global company active in fast-growing markets specializing in credit and business information systems, analytics, outsourcing and processing services; and GNB swiss investment AG, an investment company in Zurich.
Federico Ghizzoni, President of Investment Bank Rothschild & Co. Italia SpA, Fabio Nalucci, CEO and founder of GELLIFY, and Gregorio Napoleone, co-founder and CEO of PE Stirling Square Capital Partners in London, also took part in this round.
Fintech company that offers rewarding services
BKN301 was founded in 2021 by Stiven Muccioli, Federico Zambelli Hosmer and Luca Bertozzi, and wants to establish itself as an optional cross-border, open market operator in the open banking and digital payment area by offering its technical solutions to both developed and emerging economies.
BKN301 says: “By collaborating with companies and collaborating across countries, we envision and provide the safest and most engaging experience ever, anywhere. Our new digital environment provides full access to commerce and development opportunities – all delivered with the best technology right at your fingertips, so you get back irreplaceable values, like time. ”
The company recently entered into a strategic alliance with Switchover AG, a Switzerland-based telecommunications provider, which aims to increase the geographical reach of the digital services offered by BKN301.
In this context, flexible and simple integration makes services such as mobile wallets, loyalty programs, peer-to-peer exchanges, money transfers and payment card issuance available, enabling financial institutions to accelerate their digital transformation.
According to Fintech Magazine, BKN301’s founder Stiven Muccioli points out the company’s three key strategies:
- Payment improvement: First and foremost, bridge the innovation gap in order to better serve cross-border consumers by using Banking-as-a-Service (BaaS).
- Product customization and new business model: Create a highly customized, high-quality product by integrating new technology and enabling new services.
- Incremental revenue streams: Improve financial services and be able to create new revenue streams as a result of using open banking APIs and blockchain on a more global scale.
How cybersecurity scaleup Intigriti conquered the world?
Watch our interview with Paul Down, Sales Manager at Intigriti.
Watch our interview with Paul Down, Sales Manager at Intigriti. Show less
![Bitcoins [BTC] the price “could reach $42,000 this year,” well only if…](https://www.cryptoproductivity.org/wp-content/uploads/2023/02/aleksi-raisa-DCCt1CQT8Os-unsplash-1-1000x600-120x120.jpg "Bitcoins [BTC] the price “could reach $42,000 this year,” well only if…")
