BKN301, 15 million for banking-as-a-service fintech
A few months after the announcement of the closure of a first seed round, the closing of a € 15 million Series A investment round for BKN301fintech company that develops payment services and Banking-as-a-Service functionality.
The new round, led by the Swiss fund Abalone Group, sees the entry of important investors in the capital of BNK301 and brings the valuation to 63 million euros.
The capital raised will be used for the further development of the technological infrastructure of the open banking platform and to continue to grow in emerging markets such as Africa, the Middle East and Eastern Europe.
BKN301, the San Marino fintech for Banking as a Service
Born in San Marino and led by the three founders Stiven Mucciolidigital and fintech entrepreneur, founder of several successful startups including Ventis and the Venture Capital fund SM Capital, Federico Zambelli HosmerCBO, former General Manager of PayPal Italy, e Luca BertozziFinance Director, former CFO of Ventis, BKN301 enables third parties to offer financial, payment and token issuance services through a “Banking-as-a-Service” and digital currency platform model.
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The services that BKN301 offer are easily integrated and expandable to the banking financial realities and expand their digital transformation of the group, and to corporates, of any sector and size, say their range of action to services, extending their offer, increasing the profitability and strengthening market positioning.
Operational since March 2021, BKN301 has raised € 20 million to date. Born from the acquisition of the assets of TP @ Y, the previous Payment Institution of the Republic of San Marino, today it operates as the only Payment Institution in the country, offering innovative e-money services of issuing, Purchase and related.
The focus on emerging markets
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 emerging ones (Africa, Middle East and Eastern Europe). Markets that offer extremely high opportunities and growth prospects for international operators as regards from a population with low average, high rapid demographic growth, high technologies related to major payment systems and low technology literacy in terms of innovative banking and financial solutions .
In this interview with Economyup, CEO and founder Muccioli tells the story of the startup and its projects.
BKN301, the new round
“The closure of this new round and the confidence of highly experienced investors with a deep knowledge of the financial sector confirm the validity of our project which has always focused on” fast growing markets “- he comments Stiven Muccioli, Founder and CEO of BKN301. – Yes of an important recognition to which, now with even greater force, we will continue through the BKN01 group to provide services and solutions with integrations at high fintech standards, to countries with high development potential which, thanks to a low level of banking, can reaping great benefits from the adoption of new banking industry technologies such as digital payments, innovative blockchain-enabled services, cryptocurrencies and digital assets. “
The capital increase sees the entry into the shareholding of BKN301 di Pay U, a leading provider of online payment services operating in over 50 emerging markets and part of Prosus, one of the largest technology investors in the world; from Azimut Digitech Fundventure capital fund of Azimut Libera Impresa created as part of a partnership with GELLIFY; CRIFglobal company specializing in credit and business information systems, analytics, outsourcing services, as well as advanced digital solutions for business development and open banking; GNB Swiss Investments AG, investment company from Zurich; as well as of Federico GhizzoniChairman of the investment bank Rothschild & Co. Italia SpA, Fabio NalucciCEO and Founder of GELLIFY e Gregorio NapoleonCo-founder and Managing Partner of the London-based PE fund Stirling Square Capital Partners.
Elisa Zafferani (Chairman), for Banca di San Marino, Emanuele Cesarini, Director of Banca Agricola Commerciale, Pietro Andrea Calandruccio for Abalone Group, Michele Giordani for Azimut Libera Impresa SGR, Enrico Lodi, CEO of CRIF, join the board of the company Antonio M. Perdichizzi, Chief Executive Officer of Mediobanca’s Corporate and Investment Banking – Banca di Credito Finanziario.