FinTecSystems, a specialist in digital credit assessments and banking API provider, has closed its Series B financing round with a transaction volume of €4.5 million. The round is led by the family office Reimann Investors, which is joining as an anchor investor. Existing investors Ventech (France) and LITTLEROCK are also increasing their investments.
FinTecSystems delivers with accourate Fully automated transaction analyses based on online banking data. These analyses are used by banks, financial service providers, and FinTechs, among other things, for real-time credit assessments for online loans. The newly raised capital will be used for strategic adjustments resulting from the implementation of the Second European Payment Services Directive (PSD2), for increasing the vertical integration of the services, and for further internationalization.
"We are very pleased with the outcome of the new financing round. With Reimann Investors, we have a long-term thinking and acting partner at our side, one that stands for vision and stability. Furthermore, we share a long history with Reimann Investors. Ventech and LITTLEROCK, who have supported us since the Series A round, support this next step, which offers significant growth potential for FinTecSystems,"
so Dirk Rudolf, founder and managing director of FinTecSystems. Reimann Investors focuses its investments on the areas of e-commerce, digitalization, FinTech and financial services and was already an early investor and main shareholder in SOFORT GmbH, the
Provider of SOFORT Überweisung. The founding team of FinTecSystems built SOFORT Überweisung into one of the leading payment providers in Europe starting in 2005.
Investors support further growth and development
"With FinTecSystems, we are investing in a FinTech company that has proven to have a functioning B2B business model and is implementing digital transformation as a partner to banks and financial service providers. We have been following FinTecSystems' development since its founding and are excited to now continue the journey together."
so Noel Zeh, Investment Manager at Reimann Investors.
"FinTecSystems makes modern banking possible with its real-time credit checks. Similar to electronic signatures or video identification, providers like FinTecSystems provide the fundamental building blocks for the complete digitalization of banking processes. We are happy to support the company's further development,"
says Christian Claussen, Managing Partner at Ventech.
In the coming weeks and months, the Munich-based startup will further increase the value added of its existing products and services: In addition to the digital credit check via accourateBased on the analysis of online banking data, the service will in future also offer predictions about willingness and ability to pay. At the same time, internationalization is being driven forward: FinTecSystems currently serves banks, financial service providers, and FinTechs in Germany, Austria, and Spain, with France, Italy, and Switzerland to follow in the near future.
"Our API already covers more than 100 million accounts at 5,000 banks. We are continuing to expand this reach, which is a unique selling point compared to other banking API providers,"
explained Martin Schmid, founder and CCO of FinTecSystems. FinTecSystems' customers include DKB/SKG-Bank, Deutsche Handelsbank, solarisBank, FinReach, and Cashpresso.
