Yapily, a UK-based open banking infrastructure provider, announced earlier this week it has expanded and launched in Germany as it turns its attention to drive open banking adoption for organizations throughout Europe.
As previously reported, Yapily is an enterprise connectivity platform that enables companies to seamlessly access users’ financial data. The company claims it empowers people around the world to receive faster, affordable, and personalized products. The company has raised $18.4 million in funding to date, and over the last six months, monthly recurring revenue has grown over 500%.
“We connect businesses to thousands of banks through a secure open API. Taking care of the complexity and management of connections, saving businesses time and money. As the world moves towards an open economy, we exist to power the innovative solutions that will ultimately transform the way we all interact with financial products and services.”
Speaking about the German expansion, Stefano Vaccino, Founder and CEO of Yapily, stated:
“Germany is a source of innovation and has always been a key hub for banking and financial services. We are looking forward to starting operations in this market, bringing our first-class API infrastructure to the region. With this strategic market entry we will further drive open banking adoption and its benefits to financial sectors including payments, lending and accounting software.”
Chris Scheuermann, Commercial Lead DACH at Yapily, commented:
“Yapily offers market leading technology that is ahead of the competition, due to its “Open API first” approach. With no screen scraping or reverse engineering, this ensures all parties are getting the performance, scale, and security expected of such a critical piece of API infrastructure. We are pleased to bring this innovation to the German marketplace and I’m looking forward to building a local team of leading experts.”
Yapily went on to add that as part of the German market expansion, it is deploying a local team and API platform that will strengthen the capabilities of domestic players in Open Banking to power any financial application and provide access to a global network of industry-leading experts.