BaaS Fintech BKN301 Closes £18.6 Million Series B Round to Support New Phase of Growth
Summary
This will support BKN301s international growth through organic development and strategic acquisitions, as well as enhancing the firms proprietary BaaS Orchestrator platform.BKN301 operates in Europe, Africa, and the Middle East, helping traditional banks, fintechs and digital banks integrate innovative and secure solutions, accelerating their growth and expansion into new markets. The BaaS Orchestrator platform offers core banking, payment processing, digital wallets, card issuing, API decoupling, cross-border services, open banking, AI and Gen AI, for integration with third-party systems.Alongside the support of existing investors, the Series B attracted new institutional, industrial and private investors, including: CDP Venture Capital SGR (through the Digital Transition Fund), Azimut Libera Impresa SGR through the Azimut Digitech Fund under the advisory of FNDX, SIMEST (through the F.394/81 managed on behalf of the Ministry of Foreign Affairs and International Cooperation), Alisei Forinvestments di Aldo Fumagalli and other investors. The firm has been chosen by major operators in the MENA region, reaching 18 million customers daily in Egypt alone.An evolution that starts from Italy, where the Group has entered into a partnership with the neobank HYPE, with the integration of the BKN301 Baas Orchestrator solution into its application landscape.BKN301 has reached operational break-even, with 2024 gross revenues of \xa315.9 million, up 51% YoY, and growth of 236% YoY in terms of net revenues. With the new industrial plan, we estimate a CAGR of 36% of EBITDA by 2028, and we aim to bring innovative payment and financial services to more and more operators and their customers, usable in a simple and fluid way.Enrico Fil\xec, Head of the Digital Transition Fund at CDP Venture Capital added: BKN301 represents excellence recognized by customers and partners globally, an international operator that is effectively contributing to innovation in fintech. CDP Venture Capital is constantly committed to enhancing companies that promote innovation and create value in their respective fields.