BKN301, the Fintech Company Specializing in Digital Payments and Banking-as-a-Service, Raises €15 million
BKN301 – a fintech company developing payment services and Banking-as-a-Service functions – has raised 15 million euros with Series A funding, just after closing the first seed round a few months ago. The acquisition involves essential investors and brings the company to a valuation of 63 million euros. The raised capital will further the development of the open banking platform’s technological infrastructure and sustains its growth among fast-growing markets such as Africa, the Middle East, and Eastern Europe.
The capital increase, led by the Swiss fund Abalone Group, expands the shareholding structure of BKN301: among PayU, a leading online payment service provider operating in 50+ emerging markets and part of Prosus (AEX:PRX), one of the largest technology investors in the world. The shareholding is also joined by Azimut Digitech Fund, a venture capital fund of Azimut Libera Impresa created as part of a partnership with GELLIFY; CRIF, global company highly active in fast-expanding markets, specializing in credit information and business information systems, analytics, outsourcing, and processing services (as advanced digital solutions for business development and open banking); GNB Swiss Investments AG, an investment company in Zurich. Federico Ghizzoni, President of the investment bank Rothschild & Co. Italia S.p.A. Fabio Nalucci, CEO & Founder of GELLIFY; Gregorio Napoleone, Co-founder and Managing Partner of the fund of PE Stirling Square Capital Partners in London.
The board of BKN301 is composed and guided by its three founders: Stiven Muccioli, digital and fintech entrepreneur, founder of several successful startups, including Ventis and the Venture Capital fund SM Capital; Federico Zambelli Hosmer, CBO, former General Manager of PayPal Italia; and Luca Bertozzi, Chief Financial Officer, former CFO of Ventis. The new entries are: Elisa Zafferani (President), for Banca di San Marino S.p.A.; Emanuele Cesarini, Director of Banca Agricola Commerciale S.p.A.; Pietro Andrea Calandruccio, Abalone Group; Michele Giordani from Azimut Libera Impresa SGR S.p.A.; Enrico Lodi, Managing Director of CRIF S.p.A.; Antonio M. Perdichizzi, Managing Director of Mediobanca Corporate and Investment Banking – Banca di Credito Finanziario S.p.A.
Stiven Muccioli, Founder and CEO of BKN301, remarks: “Closing this new round based on the support of highly-experienced investors confirms the validity of our project, which has always focused on fast-growing markets. Thanks to this massive recognition, we will continue to provide, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential. Being characterized by a low level of banking services, they can significantly benefit from adopting new banking technologies — such as digital payments, innovative blockchain services, cryptocurrencies, and digital assets. “
The fintech firm, through a BaaS (Banking-as-a-Service) and digital e-money platform model, enables third parties to offer financial, payment, and token issuance services. The company aims to become the reference open-market and cross-border operator in the open banking and digital payments sector, bringing its solutions to international markets with a strong focus on fast-growing ones (Africa, Middle East, and Eastern Europe). Those markets present elevated opportunities and growth prospects for international operators as they feature a population with low average age, rapid demographic growth, high mobile penetration, and significant literacy on technologies related to payment systems. Also, there’s a shortage of innovative banking and financial solutions.
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- Abalone Group
- Antonio M. Perdichizzi
- Azimut Digitech Fund
- Banca Agricola Commerciale S.p.A.
- Banca di Credito Finanziario S.p.A.
- Banca di San Marino S.p.A.
- CRIF S.p.A.
- Elisa Zafferani
- Emanuele Cesarini
- Enrico Lodi
- Fabio Nalucci
- Federico Ghizzoni
- Federico Zambelli Hosmer
- GNB Swiss Investments AG
- Gregorio Napoleone
- Luca Bertozzi
- Michele Giordani
- Pietro Andrea Calandruccio
- Rothschild & Co
- SM Capital
- Square Capital Partners
- Stiven Muccioli