Following a $51 million Series B funding round, open banking provider Yapily has announced its expansion into France.
Yapily says it has already developed considerable capabilities in the French market. With 100% PSD2 connectivity, Yapily covers more than 85% of French bank accounts, enabling banks, Fintech firms and other financial firms to embed open banking features within their products and services. At least one customer, Berlin-based Vivid, is already using Yapily to connect to bank accounts in France. Yapily has opened an office and hired a team to support its expansion.
Julien Lamour, Yapily’s Country Manager in France, said the public expects banks and other financial service providers to deliver the same levels of speed, convenience and personalization found in mainstream mobile apps.
“Yapily’s proven expertise in open banking provides the foundation for banks and fintech firms to fulfil these expectations. Yapily infrastructure is scalable, allowing French companies to embed open banking within their products and create hyper-personalised services. With our international reach, we’re excited to help French businesses continue to innovate and expand into other European countries beyond the home market.”
Lamour added that the French Fintech sector has accelerated in recent years with both investment and innovation:
“In moving data and payments between organizations, open banking initiatives will be crucial to traditional and new financial service providers realising their ambitions. Yapily’s focus on scalable and reliable open banking infrastructure will provide the foundation for French companies to create better and fairer financial products and services.”
Lamour will be joined by Mohsen Dajani, Head of Sales and former country manager of Pagantis, to support the French market expansion.
Yapily is headquartered in the UK and currently works with many big names like American Express, Intuit and others.