BKN301 Group, a provider of banking-as-a-service (BaaS) solutions, has raised €21.5m ($24.5m) through its Series B funding round.
The company noted that the capital infusion will be used to fuel the company’s growth plans, focusing on both expanding organically and pursuing strategic acquisitions.
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The funds will also facilitate the enhancement of the BKN301 BaaS Orchestrator platform, a key aspect of the company’s ongoing development.
This technological upgrade is essential as the firm works to revolutionise the financial services sector with innovative solutions.
In addition to its existing investors, the funding round attracted several new institutional, industrial, and private investors.
Notable new contributors include CDP Venture Capital SGR, Azimut Libera Impresa SGR, and SIMEST, among others.
Previous investors, including SM Capital, Prosus Group, CRIF, and Abalone Group, also participated in the round, continuing their support for the company’s growth.
Their involvement highlights the trust in BKN301’s business model and long-term vision.
The successful closure of this Series B round reflects a strong belief in the company’s future prospects within the financial technology industry.
With the additional funding, the company is set to scale its operations and broaden its BaaS model globally.
BKN301 Group co-founder and CEO Stiven Muccioli said: “Closing a Series B round in today’s market environment is a major achievement and signals the beginning of an exciting new growth phase for BKN301.
“Our goal remains clear: to bring an efficient, scalable, and innovative Banking-as-a-Service model to global markets.
“With our new industrial plan, we anticipate a CAGR of 36% in EBITDA by 2028, as we continue to deliver intuitive, seamless financial and payment services to a growing number of partners and their end users.”
