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Romanian startup FintechOS secures $60M funding to assist traditional banks in competing with neobanks

For years, fintech startups, particularly neobanks, have disrupted the banking and finance industry by introducing new banking software solutions. However, a Romanian startup has taken a different approach by developing tools to help traditional banks and insurance companies offer the innovative features and products of neobanks.

FintechOS' low-code platform has raised a $60 million 'Series B+' investment round led by BlackRock, Cipio Partners, and Molten Ventures. The company previously raised $14 million in 2015 and additional $60 million in 2021.

This funding round, along with the success of UIPath, highlights Romania's ability to compete on a global scale without relying on US VCs.

Co-founder and CEO Teo Blidarus stated that the funding will be used to expand internationally and enable companies to transform their core infrastructure without the need for complete replacement, allowing for easier adoption of new financial products and services.

FintechOS differentiates itself from competitors like Ncino, Meridian Link, Abrigo, and Backbase by offering a comprehensive range of product transformation services across various financial sectors, including deposits, lending, mortgages, insurance, and wealth management.

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

Molten Ventures partner Vinoth Jayakumar praised FintechOS for its innovative technology and successful partnerships with major banks and insurers, showcasing the company's ability to drive significant change within the financial services sector.

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

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