BKN301 Group, a global fintech that is focused on Banking-as-a-Service (BaaS), is pleased to announce the successful closing of a €21.5 million capital increase as part of its Series B funding round.
This significant milestone will fuel the company’s international expansion, both through “organic growth and strategic acquisitions, while also strengthening the development of the BKN301 BaaS Orchestrator platform.”
Stiven Muccioli, Co-Founder and CEO of BKN301 Group said:
“Closing a Series B round in today’s market environment is a major achievement and signals the beginning of an exciting new growth phase for BKN301. Our goal remains clear: to bring an efficient, scalable, and innovative Banking-as-a-Service model to global markets. With our new industrial plan, we anticipate a CAGR of 36% in EBITDA by 2028, as we continue to deliver intuitive, seamless financial and payment services to a growing number of partners and their end users.”
Alongside the support of existing investors, the Series B has reportedly attracted new institutional, industrial and private investors, “including: CDP Venture Capital SGR (through the Digital Transition Fund), Azimut Libera Impresa SGR through the Azimut Digitech Fund under the advisory of FNDX, SIMEST (through the F.394/81 managed on behalf of the Ministry of Foreign Affairs and International Cooperation), Alisei Forinvestments di Aldo Fumagalli and other investors.”
These are in addition to the investors of the previous funding rounds, reportedly including the following: SM Capital, Prosus Group, CRIF, Abalone Group, Federico Ghizzoni and Fabio Nalucci.
As mentioned in a blog post, this new round of funding “underscores strong investor confidence in BKN301’s vision, platform, and long-term strategy.”
The company is now poised to accelerate its mission of “transforming financial services through cutting-edge technology and a robust, scalable BaaS model.”
As covered in 2022, BKN301 – a Fintech creating payment services and Banking-as-a-Service (BaaS) solutions – acquired €15 million via its Series A round. This, after finalizing the first seed round a few months back.
The investment round included key investors and brings the firm’s valuation to €63 million.
The capital will be used to further the development of the Open Banking platform’s technological infrastructure and support its growth among fast-evolving markets like the MENA region and Eastern Europe.
The raise, which was led by the Swiss fund Abalone Group, expands the shareholding structure of BKN301: among PayU, an online payment service provider operating in over 50 emerging markets and part of Prosus (AEX:PRX), one of the largest tech investors.