Germany-Based Open Banking Solution Provider OptioPay Increases Series B Funding Round to €11 Million Secured

 

OptioPay, a Germany-based open banking solution provider, recently announced it has increased its Series B round, originally closed in September 2020, going from €5.75 million to €11 million.  Eos Venture Partners, AB Ventures, and Seed X Liechtenstein are new investors in the round, joining existing backers including NN Group n.V., Avaloq Ventures, Main Incubator, and management.

Founded in 2014, OptioPay describes itself as a fintech provider that specializes in open banking for customer-centric, value-add solutions, and banking data-based campaign. The company noted that its end-customers receive value-added products and services in return for their bank account data to save time and money through exclusive cash backs, higher-value vouchers, and contract optimization.

CEO of OptioPay, Marcus Börner, spoke about the company’s development by stating:

Demand for open banking services has grown rapidly as data-driven digitization continues to sweep across Europe. We will invest our additional capital to further serve the growing demand from businesses and customers for our ‘data for good’ solutions. We empower customers to both own and share their data responsibly and enable them to realize the full value of their data by nudging smarter and more responsible consumption. Too often, customers hand over their data without an adequate reward in return. OptioPay’s products have changed that, for the benefit of both, businesses and their customers.”

OptioPay went on to add that the investment round’s funding will go towards the development and marketing of its three core open banking products: the customer-centric white-label platform for value-added services and recommendations based on customer’s bank account data; the data-insights portal for enterprise clients; and the bank account data-driven campaign manager for advertisers

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