The open banking platform NDGIT has completed a Series A financing round, raising a total of €4 million for the Munich-based startup.
NDGIT offers banks and insurance companies a platform that enables them to connect new business models and open up data. Companies with digital business models can use the platform to establish their own banking processes and connect banking systems. The startup's customers include the Swiss Hypothekarbank Lenzburg, the Bank für Sozialwirtschaft, and Mobile.de.
Capnamic Ventures from Germany and PROfounders from the UK are now investing 4 million euros in the software company. existing investors Dieter von Holtzbrinck Ventures and several business angels are participating in the financing round. The Munich-based company plans to use the money to further accelerate its growth, hire new employees, and further develop its product. Jörg Binnenbrücker, Partner at Capnamic, comments:
"NDGIT defines the interface between banks and digital partners, enabling a multitude of new business models for fintechs, banks, and insurance companies. NDGIT convinced us with its rapid growth and market potential for APIs and new technologies in banking and insurance."
NDGIT aims to “accelerate growth”
The company announces that it will use the fresh capital to expand its team to 50 employees. Founder and CEO Oliver Dlugosch says:
"With Capnamic, we have gained a leading investor with experience in fintech and insurtech. Against the backdrop of the uniform PSD2 regulation and international open banking developments, the commitment of PROfounders Capital is also a testament to NDGIT's European market relevance. Together with our partners, we want to accelerate our growth trajectory and further develop NDGIT into the market-leading open banking platform in Europe!"
