upSWOT bags £3.1M, helps banks and SMEs analyse strengths, weaknesses, opportunities and threats
Summary
As the name suggests, upSWOT is a fintech startup that offers solutions to analyse strengths, weaknesses, opportunities and threats for the benefit of both the banks and their business clients including SMEs (Small and medium-sized enterprises). The angel investors include Knut Frangsmyr, COO of Klarna; Kaustav Das, Chief Risk and Analytics Officer of Quadpay; David Rabkin, former EVP & GM at American Express; Hannes Liebe, COO of Finastra; Aiaz Kazi, Former Chief Platform Officer at Banco Santander; Levi King, Chairman, NAV; Kerry Agiasotis, EVP, Sage, and more than 50 other financial industry leaders, visionaries, and operators, participated in the round. Initially founded in Ukraine in 2019 by Aleksander Simeiko, Andrey Davydchuk, Dmitriy Syvolap and Dmitry Norenko, UpSWOT’s created the service to allow banks to access information about a business’s financial condition easily. Similar to its San-Francisco rival Plaid, upSWOT also utilises an API-driven, modern approach to connect, collect, and normalise data from over 120 business software tools SMBs regularly use. In under two years, they’ve integrated 120 mission-critical SaaS products and launched pilots with 30 financial institutions across Europe and North America and have already shown customer success.