BKN301, a Fintech specializing in digital payments and BaaS, raises € 15 million
BKN301 – a fintech company that develops payment services and Banking-as-a-Service features – has raised 15 million euros with Series A funding, just after closing the first round of seeds a few months ago. The acquisition involves important investors and brings the company to a valuation of 63 million euros. The capital raised will promote the development of the technological infrastructure of the open banking platform and maintain growth in rapidly growing markets such as Africa, the Middle East and Eastern Europe.
The capital increase, led by the Swiss fund Abalone Group, expands the share structure of BKN301: among PayU, a leading provider of online payment services operating in 50+ emerging markets and part of Prosus (AEX: PRX), one of the largest technology investors in the world. The shareholding will also be joined by Azimut Digitech Fund, a venture capital fund from Azimut Libera Impresa established as part of a partnership with GELLIFY; CRIF, a global company very active in fast-growing markets, specializing in credit information and business information systems, analytics, outsourcing and processing services (such as advanced digital solutions for business development and open banking); GNB Swiss Investments AG, an investment company in Zurich. Federico Ghizzoni, President of Investment Bank Rothschild & Co. Italy SpA Fabio Nalucci, CEO and 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 supervised by the three founders: Stiven Muccioli, digital and fintech founder, 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, CFO, former CFO of Ventis. The new contributions are: Elisa Zafferani (President), for Banca di San Marino SpA; Emanuele Cesarini, Director of Banca Agricola Commerciale SpA; Pietro Andrea Calandruccio, Abalone Group; Michele Giordani of Azimut Libera Impresa SGR SpA; Enrico Lodi, CEO of CRIF SpA; Antonio M. Perdichizzi, CEO of Mediobanca Corporate and Investment Banking – Banca di Credito Finanziario SpA
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 offer, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential. As they are characterized by a low level of banking services, they can benefit significantly from the use of new banking technologies – such as digital payments, innovative blockchain services, cryptocurrencies and digital assets. “
The Fintech company, through a BaaS (Banking-as-a-Service) and digital e-money platform model, enables third parties to offer financial services, payment and token issuance services. The company aims to become the reference operator for open markets and cross-border in the open banking and digital payment sector, and bring its solutions to international markets with a strong focus on fast-growing (Africa, Middle East and Eastern Europe). These markets present high opportunities and growth prospects for international operators as they have a population with a low average age, rapid demographic growth, high mobile penetration and significant knowledge of technologies related to payment systems. In addition, there is a lack of innovative banking and financial solutions.
