Withers tech’s venture capital team has advised Draper Esprit on the US$60 million Series B funding of FintechOS, a leading European fintech whose technology dramatically reduces the time it takes for financial institutions to build end-to-end digital products.
Draper Esprit led the Series B, with other investors including Earlybird Digital East, Gapminder Ventures, LAUNCHub Ventures, and OTB Ventures.
Draper Esprit is one of Europe’s leading venture capital funds and a long-standing client of Withers tech. London partner, Iain Cockburn, who led London Withers tech team, comments: “We are delighted to have supported Vinoth and the team at Draper Esprit as they continue to back Europe’s best technology companies. FintechOS is widely regarded as one of the stars of Europe’s thriving fintech sector and we are proud to have played a small part in this transformative company’s spectacular growth.”
Vinoth Jayakumar, Partner at Draper Esprit comments: “When we met Teo and Sergiu at FintechOS, we were immediately convinced of their vision: a data led, end-to-end platform, facilitated with a low-code/no-code infrastructure. Incumbent financial services firms have cost-to-income ratios up to 90%, so we see a huge and increasing need for infrastructure software that allows digitisation at speed, ease and lower cost. Draper Esprit builds enduring partnerships; with the team at FintechOS we hope to build an enduring fintech company that will dramatically change financial services experiences for people all over the world.”