Romanian Startup FintechOS Raises $60M to Help Traditional Banks Compete with Neobanks

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Over the years, fintech startups, particularly neobanks, have disrupted the banking and finance industry by creating entirely new banking software stacks. However, a startup from Romania opts to build tools that enable traditional banking and insurance firms to offer the innovative features introduced by these new players.

FintechOS’ low-code platform has now secured a $60 million “Series B+” funding round, led by BlackRock, Cipio Partners, and Molten Ventures. Previously, FintechOS raised $14 million in 2015 and $60 million in 2021.

This rounds off another milestone, following UIPath’s global success, proving that Romanian companies can reach international acclaim without the backing of U.S. venture capital firms.

Co-founder and CEO Teo Blidarus mentioned that the company intends to use this investment to expand internationally. “We can collaborate closely with an organization’s existing core infrastructure,” he stated. “This approach enables us to achieve 95% of the transformation without the need for drastic measures. Consequently, consultants and business professionals can independently create new financial products and services.”

FintechOS competes with firms like Ncino, Meridian Link, Abrigo, and Backbase. However, Blidarus emphasized that his company stands out “because we work across multiple product lines, offering solutions for deposits, lending, mortgages, insurance, and wealth management. This broad capability allows us to achieve a wider range of transformations.”

Notable clients of FintechOS include Société Générale, Admiral, Benenden Health, Avant Money, and Vibrant Credit Union, spanning the U.S., U.K., Continental Europe, and the APAC region.

“FintechOS is leading the charge in transforming financial services through innovative technology,” remarked Molten Ventures partner Vinoth Jayakumar. “Its impressive track record with major banks and insurers showcases its unique ability to drive substantial change within these organizations.”

Existing investors, EarlyBird VC, Gapminder VC, and OTB VC, also joined in this latest funding round.

Mike Butcher
Mike Butcher
Tech Editor. Mike has written for UK national newspapers and magazines and been named one of the most influential people in European technology by Wired UK. He has spoken at the World Economic Forum, Web Summit, and DLD. He has interviewed Tony Blair, Dmitry Medvedev, Kevin Spacey, Lily Cole, Pavel Durov, Jimmy Wales, and many other tech leaders and celebrities. He has also advised UK Prime Ministers and the Mayor of London on tech startup policy, as well as being a judge on The Apprentice UK.

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