Latest financing round puts FinTechOS at USD 220 mln
FintechOS, a Romanian start-up that develops digital solutions for the financial industry, reached a valuation of USD 220 million, according to ZF estimates, after recently concluding the Series B funding round of USD 60 million.
Following the investment, the company targets recurring revenues of EUR 15-20 million in 2021 and expanding into the US and Asian markets.
The company, founded in 2017 by Romanian entrepreneurs Teodor Blidarus and Sergiu Negut, had recurring revenues of almost EUR 6.3 million (USD 7.5 million in 2020) and has nearly 300 employees.
"We have the ambition to create a technology company with a global footprint. The possible investments for a young company were no longer enough, and we had to move out to a wider universe of investors and customers. All the shareholders we had in the previous series contributed to the current round with the maximum they could contribute with," Sergiu Negut (pictured left) co-founder, CFO and COO of FintechOS, told ZF Live.
(Photo courtesy of the company)