BKN301 Group, a fintech company headquartered in London and specializing in Banking-as-a-Service (BaaS), has successfully raised $23.8 million in a Series B funding round. This capital injection will support the company’s international expansion, particularly targeting the United Arab Emirates (UAE) and Saudi Arabia, while also accelerating the development of its proprietary BaaS Orchestrator platform.
The fintech firm currently operates across Europe, the Middle East, and Africa, offering advanced technology solutions to traditional banks, digital banks, and fintech startups. Its core services include payment processing, digital wallets, card issuing, core banking, API decoupling, cross-border transactions, open banking, and integration of AI and GenAI systems into third-party platforms.
The funding round drew interest from both existing and new investors. Notable newcomers include CDP Venture Capital SGR via its Digital Transition Fund, Azimut Libera Impresa SGR through the Azimut Digitech Fund advised by FNDX, and SIMEST through the F.394/81 fund managed for Italy’s Ministry of Foreign Affairs and International Cooperation. Other new backers include Alisei Forinvestments, led by Aldo Fumagalli, along with a consortium of institutional, industrial, and private investors.
These new stakeholders join BKN301’s existing investor base, which features prominent names such as SM Capital, Prosus Group, CRIF, Abalone Group, Federico Ghizzoni, and Fabio Nalucci.
BKN301 continues to gain momentum in emerging markets, particularly in Africa and the Middle East, where the company reports a reach of around 18 million daily users in Egypt alone. In Europe, the fintech has expanded its presence starting with Italy, entering a strategic partnership with neobank HYPE to integrate its BaaS Orchestrator into HYPE’s digital infrastructure.
Having achieved operational break-even, BKN301 anticipates gross revenues of €18.4 million in 2024 — a 51% increase year-over-year. Net revenues have surged by 236% over the same period. Since its launch in 2021, the company has recorded an overall growth rate of 187%.
Stiven Muccioli, Co-Founder and CEO of BKN301 Group, commented on the company’s next phase:
“With our new industrial plan, we project a 36% CAGR in EBITDA by 2028. Our goal is to deliver seamless, innovative financial services to more partners and customers globally.”
BKN301’s growth trajectory and investment in scalable tech solutions underscore its position as a key player in the rapidly evolving fintech ecosystem across EMEA.
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