Open Banking Fintech Startup, Yapily Raises $13 Million


Yapily, a London-based open banking platform has raised $13 million in Series A funding round in order to drive further adoption of the platform across Europe.

The new round has been led by Lakestar,an early investor in Skype, Revolut.

Yapily’s existing investors including LocalGlobe and HV Holtzbrinck Ventures along with angel investors including Taavet Hinrikus, the Co-founder and Chairman of TransferWise; Roberto Nicastro, the former deputy CEO of UniCredit; Ott Kaukver, the CTO of Twilio; and Frank Strauss, the former CEO of Deutsche Postbank have also participated in the new funding round.

Yapily was founded in mid 2017 by Stefano Vaccino who is an ex-Goldman Sachs employee, and had risen its last funding of worth $5.4 million as its seed round in May 2019. The platform makes it easier for various service providers to connect to banks.
Stefano Vaccino, the Founder and CEO of Yapily states, “We believe open banking is a force for good. Using our API and infrastructure, we’re not only providing our partners with strong and powerful connectivity to boost their user experiences. But we’re also giving their customers, whether they be consumers or businesses, greater control of their finances, through the creation of products and services which can fuel greater financial management and accessibility. Something that’s more essential than ever during this period of uncertainty. The UK is at the epicenter of the world’s open finance movement, with the industry setting the rules as the world begins to embrace their own open banking positions. We’re pleased to be at the centre of this growth – we’re backed by experienced investors, and we’re the only technical provider trusted and chosen by regulators and technical committees. With this funding we intend to drive open banking adoption and its benefits, ensuring benefits are far reaching within the likes of payments, accounting, lending and beyond.”

For More Information about Blogs and News: Click Here