Latest news with #BKN301
Yahoo
14-04-2025
- Business
- Yahoo
BKN301 Group raises €21.5m in funding to boost global expansion
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. 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.' "BKN301 Group raises €21.5m in funding to boost global expansion" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
14-04-2025
- Business
- Zawya
Fintech specialist BKN301 closes $23.8mln Series B round to finance global growth
Operating break-even achieved, with 236% YoY gross margin growth. Company doubles down on MENA opportunity following excellent regional results – reaching 18 million customers daily in Egypt alone, with ambitious growth plans in Europe to follow. UAE: BKN301 Group, a global fintech specialising in Banking-as-a-Service (BaaS), with key operations in MENA, has successfully closed a USD23.8 million capital increase. This will support the Group's global growth, including exploring expansion into the United Arab Emirates and Saudi Arabia, as well as enhancing the firm's proprietary BaaS Orchestrator platform. BKN301 operates in the Middle East, Europe, and Africa, helping traditional banks, fintechs and digital banks integrate innovative, secure and scalable solutions to aid with rapid expansion and diversification. 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 round 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 Italian Ministry of Foreign Affairs and International Cooperation), Alisei Forinvestments di Aldo Fumagalli and other investors. These are in addition to the investors of the previous rounds, including SM Capital, Prosus Group, CRIF, Abalone Group, Federico Ghizzoni and Fabio Nalucci. BKN301, after having rapidly validated its model in high-growth markets such as Africa and the Middle East - where it was chosen by major operators, reaching 18 million customers daily in Egypt alone - is now increasing its presence in Europe as well, where it is starting a new phase of growth as a global operator. An evolution starting from Italy where the Group has entered 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 €18.4 million, up 51% YoY, and growth of 236% YoY in terms of net revenues. Since its market entry in 2021, the company has achieved 187% overall growth. Stiven Muccioli, Co-Founder and CEO of BKN301 Group, commentated: "The entry of new major investors, alongside the continued support of those who have already believed in our transformative approach, is a powerful endorsement of the strength and scalability of our model. Closing a Series B round in today's market is a significant achievement and marks the beginning of a new phase of growth. Our goal remains clear: to bring a truly efficient, scalable and innovative BaaS model to global markets. 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, usable in a simple and fluid way, to an ever-increasing number of operators and their customers." Enrico Filì, 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 consistently committed to enhancing companies that promote innovation and create value in their respective fields. We have great confidence in the project and in the work of the BKN301 team and we are determined to support it in achieving the ambitious goals set." 1 Banking-as-a-Service Market to Reach $60 billion, Globally, by 2033 at 17% CAGR: Allied Market Research About BKN301 BKN301 Group is a Banking-as-a-Service (BaaS) provider with offices in London, Milan, San Marino and Doha that supports the financial sector with the innovative BKN301 BaaS Orchestrator platform. The solution offers core banking, payment processing, digital wallets, card issuing, API decoupling, cross-border services, open banking, AI and Gen AI, ensuring seamless integration with third-party systems. Thanks to a scalable and innovative model, BKN301 helps traditional banks, fintechs, and digital banks – including blockchain banking and token platforms – to integrate secure and scalable solutions, accelerating growth and expansion into new markets. BKN301 has established itself as a reference player in the evolution of global financial markets. For more information:
Mid East Info
06-03-2025
- Business
- Mid East Info
BKN301 engages with business leaders at Web Summit Qatar 2025, set to address region's demands for advanced fintech solutions
BKN301, a London-based Banking-as-a-Service technology provider dedicated to empowering the financial industry and operating in EMEA markets, networked with regional fintech and banking entities at Web Summit Qatar 2025 to identify evolving trends and address the growing demand for advanced solutions in the MENA region. After recently setting up its Qatar office as the main headquarters in the MENA region, BKN301 leveraged this summit to connect with industry leaders across banks, fintech, neobanks, digital banks and blockchain companies. The company highlighted the benefits of its advanced fintech solutions, including the BaaS Orchestrator platform, to businesses interested in enhancing financial services and providing value-added offerings to end consumers. These efforts are aligned with the company's broader aim to enhance financial inclusion in the region where the fintech market size is expected to reach USD 1.66 billion in 2025 and grow at a CAGR of 9.71 per cent to reach USD 2.63 billion by 2030. Stiven Muccioli, Founder and CEO of BKN301, said: 'At BKN301, we focus on accelerating financial inclusion in the MENA region with our modular technology platform, the BKN301 BaaS Orchestrator. This platform offers customised solutions for banks, fintech companies, and digital banks, helping to fill their service gaps and enhance their offerings. By leveraging advanced technologies, we aim to create opportunities for underserved populations while supporting the region's economic growth and digital transformation. Events like the Web Summit Qatar allow us to engage with our audience and foster a future where digital financial services are accessible to all.' With its BaaS Orchestrator, BKN301 plays a pivotal role in addressing major challenges in the MENA region's fintech industry. Through its targeted initiatives and innovative solutions, the platform provides a unique technological gateway that seamlessly integrates core banking services and payment processors. Furthermore, its modular design allows companies to customise the platform by choosing various functionalities, enhancing interoperability and integrating with existing systems. BKN301 is committed to providing solutions that allow conventional banks to develop their services and facilitate a synergistic collaboration between traditional financial institutions and emerging fintech entities. Jordan A. Fabbri, Country Leader, BKN301 Qatar, said: 'Our attendance in the Web Summit Qatar holds great significance for us, especially as Qatar has recently been designated as the headquarters for all our MENA operations and the region continues to be the central focus of our global expansion plans for 2025. The summit enabled us to actively engage with industry leaders, gain insights into regional fintech trends, and better navigate the market. It also provided us with a dynamic opportunity to explore ways to further innovate the capabilities of BKN301's BaaS Orchestrator, all with the aim of bridging the gap between traditional financial institutions and digital innovation.' During the event, the company explored the latest advancements in artificial intelligence (AI), in line with the ongoing integration of AI into its technological platform – BKN301 BaaS Orchestrator, which is also a part of the company's 2025 strategic plan. About BKN301: The BKN301 Group is a London-based Banking-as-a-Service technology provider dedicated to empowering the financial industry with the innovative and scalable BKN301 BaaS Orchestrator platform. This comprehensive solution offers capabilities such as core banking, payment processing, digital wallet and card issuing, API decoupling, cross-border services, open banking, AI, while seamlessly integrating with third-party systems. By redesigning the BaaS approach, BKN301 enables traditional banks, fintechs, neobanks, and digital banks, including blockchain banking and token platforms—to seamlessly integrate secure and scalable solutions into their offerings, driving growth and facilitating new market expansion. Since launching in 2021, BKN301 Group has established a global presence in EMEA, reflecting its commitment to transforming financial landscapes worldwide.
Zawya
06-03-2025
- Business
- Zawya
BKN301 engages with business leaders at Web Summit Qatar 2025
BKN301, a London-based Banking-as-a-Service technology provider dedicated to empowering the financial industry and operating in EMEA markets, networked with regional fintech and banking entities at Web Summit Qatar 2025 to identify evolving trends and address the growing demand for advanced solutions in the MENA region. After recently setting up its Qatar office as the main headquarters in the MENA region, BKN301 leveraged this summit to connect with industry leaders across banks, fintech, neobanks, digital banks and blockchain companies. The company highlighted the benefits of its advanced fintech solutions, including the BaaS Orchestrator platform, to businesses interested in enhancing financial services and providing value-added offerings to end consumers. These efforts are aligned with the company's broader aim to enhance financial inclusion in the region where the fintech market size is expected to reach USD 1.66 billion in 2025 and grow at a CAGR of 9.71 per cent to reach USD 2.63 billion by 2030. Stiven Muccioli, Founder and CEO of BKN301, said: 'At BKN301, we focus on accelerating financial inclusion in the MENA region with our modular technology platform, the BKN301 BaaS Orchestrator. This platform offers customised solutions for banks, fintech companies, and digital banks, helping to fill their service gaps and enhance their offerings. By leveraging advanced technologies, we aim to create opportunities for underserved populations while supporting the region's economic growth and digital transformation. Events like the Web Summit Qatar allow us to engage with our audience and foster a future where digital financial services are accessible to all.' With its BaaS Orchestrator, BKN301 plays a pivotal role in addressing major challenges in the MENA region's fintech industry. Through its targeted initiatives and innovative solutions, the platform provides a unique technological gateway that seamlessly integrates core banking services and payment processors. Furthermore, its modular design allows companies to customise the platform by choosing various functionalities, enhancing interoperability and integrating with existing systems. BKN301 is committed to providing solutions that allow conventional banks to develop their services and facilitate a synergistic collaboration between traditional financial institutions and emerging fintech entities. Jordan A. Fabbri, Country Leader, BKN301 Qatar, said: 'Our attendance in the Web Summit Qatar holds great significance for us, especially as Qatar has recently been designated as the headquarters for all our MENA operations and the region continues to be the central focus of our global expansion plans for 2025. The summit enabled us to actively engage with industry leaders, gain insights into regional fintech trends, and better navigate the market. It also provided us with a dynamic opportunity to explore ways to further innovate the capabilities of BKN301's BaaS Orchestrator, all with the aim of bridging the gap between traditional financial institutions and digital innovation.' During the event, the company explored the latest advancements in artificial intelligence (AI), in line with the ongoing integration of AI into its technological platform – BKN301 BaaS Orchestrator, which is also a part of the company's 2025 strategic plan. About BKN301 The BKN301 Group is a London-based Banking-as-a-Service technology provider dedicated to empowering the financial industry with the innovative and scalable BKN301 BaaS Orchestrator platform. This comprehensive solution offers capabilities such as core banking, payment processing, digital wallet and card issuing, API decoupling, cross-border services, open banking, AI, while seamlessly integrating with third-party systems. By redesigning the BaaS approach, BKN301 enables traditional banks, fintechs, neobanks, and digital banks, including blockchain banking and token platforms—to seamlessly integrate secure and scalable solutions into their offerings, driving growth and facilitating new market expansion. Since launching in 2021, BKN301 Group has established a global presence in EMEA, reflecting its commitment to transforming financial landscapes worldwide. For more information, visit
Zawya
16-02-2025
- Business
- Zawya
Damen Cash recognized as Best New Mobile Payment App at Global Economics Awards 2024
Cairo: Damen ePayment is proud to announce that its innovative mobile payment application, Damen Cash, has been awarded the prestigious title of Best New Mobile Payment Application - Egypt 2024 at The Global Economics Awards. This recognition comes just one year after its launch, highlighting Damen Cash's rapid impact on the digital payment landscape in Egypt. The Global Economics Awards team praised Damen Cash, stating, "Your commitment to advancing the mobile payment industry in Egypt is truly inspiring. We are thrilled to recognize Damen Cash for its exceptional contribution to financial inclusion and digital transformation." Launched on February 19, 2024, Damen Cash aims to reduce cash reliance and provide accessible financial services to all segments of society, including low-income individuals and those in remote areas. The app aligns with Egypt's digital transformation strategy and offers over 600 services, making it a comprehensive solution for users. Damen Cash is the first in Egypt to offer unique NFC Gas services in collaboration with leading gas companies, including Petrotrade, Natgas, Taqa, Fayoum Gas Company, and Overseas. The app has undergone rigorous penetration testing and holds certifications to ensure the highest levels of data security and user privacy. As part of its commitment to enhancing digital payment solutions, Damen ePayment has partnered with BKN301, a leading global provider of Banking-as-a-Service (BaaS) solutions. Through this collaboration, Damen Cash will leverage BKN301's advanced payment processing and core banking technologies, further enhancing transaction efficiency, security, and scalability. Eng. Sameh El Mallah, CEO of Damen, expressed his pride in the achievement, stating, "We are proud of Damen Cash. By adhering to global standards for information security, we ensure the safety of personal data and financial transactions, building trust with our users. Damen Cash stands out with its unique NFC Gas services and comprehensive range of over 600 services, all designed to meet the diverse needs of our customers." Stiven Muccioli, CEO of BKN301, added: "BKN301 is proud to partner with Damen to develop an innovative app that enhances Egypt's digital payment ecosystem. Together, we drive secure, seamless transactions and promote financial inclusion to support the country's growing Fintech landscape." Damen Cash also prioritizes customer experience, offering 24/7 technical support to resolve any issues immediately. "We are confident that our advanced financial services and expertise will contribute to the growth of the fintech and electronic payment sector in Egypt," added El Mallah. Download Damen Cash today from the App Store or Google Play and experience seamless, secure, and innovative digital payments! About Damen Damen is a leading electronic payment company established in 2018 with the aim of providing electronic payment solutions for individuals, institutions, and financial services as part of the Egyptian government's financial inclusion initiatives. Drawing on the expertise and support of its parent company, Smart Digital Services, a leading technology solutions provider, executed projects such as managing the distribution of subsidized goods and bread to approximately 20 million citizen daily using smart cards. With over 23 branches across Egypt, Damen offers over 600 electronic payment and collection services, including donations to institutions and charities, electricity and gas card, mobile and landline bills payments. It serves a network of over 100,000 merchants across all Egyptian governorates.
