BaaS Fintech BKN301 Secures €15M in Capital

BKN301 – a Fintech creating payment services and Banking-as-a-Service (BaaS) solutions – has acquired €15 million via its Series A round. This, after finalizing the first seed round a few months back.

The investment round includes key investors and brings the firm’s valuation to €63 million. The capital will be used to further the development of the Open Banking platform’s technological infrastructure and support its growth among fast-evolving markets like the MENA region and Eastern Europe.

The raise, which was led by the Swiss fund Abalone Group, expands the shareholding structure of BKN301: among PayU, an online payment service provider operating in over 50 emerging markets and part of Prosus (AEX:PRX), one of the largest tech investors.

The shareholding is joined by Azimut Digitech Fund, a VC fund of Azimut Libera Impresa established as part of a partnership with GELLIFY; CRIF, a company that’s active in fast-growing markets, specializing in credit information and business information systems, analytics, outsourcing, and processing services (as advanced digital solutions for business development and open banking); GNB Swiss Investments AG, an investment company in Zurich. Federico Ghizzoni, President of the investment bank Rothschild & Co. Italia S.p.A. Fabio Nalucci, CEO & Founder of GELLIFY; Gregorio Napoleone, Co-founder and Managing Partner of the fund of PE Stirling Square Capital Partners in London.

The board of BKN301 is guided by its founders: Stiven Muccioli, digital and fintech entrepreneur, founder of several successful startups, including Ventis and the Venture Capital fund SM Capital; Federico Zambelli Hosmer, CBO, former General Manager of PayPal Italia; and Luca Bertozzi, Chief Financial Officer, former CFO of Ventis.

The latest entries are: Elisa Zafferani (President), for Banca di San Marino S.p.A.; Emanuele Cesarini, Director of Banca Agricola Commerciale S.p.A.; Pietro Andrea Calandruccio, Abalone Group; Michele Giordani from Azimut Libera Impresa SGR S.p.A.; Enrico Lodi, Managing Director of CRIF S.p.A.; Antonio M. Perdichizzi, Managing Director of Mediobanca Corporate and Investment Banking – Banca di Credito Finanziario S.p.A.

Stiven Muccioli, Founder and CEO of BKN301, said:

“Closing this new round based on the support of highly-experienced investors confirms the validity of our project, which has always focused on fast-growing markets. Thanks to this massive recognition, we will continue to provide, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential. Being characterized by a low level of banking services, they can significantly benefit from adopting new banking technologies — such as digital payments, innovative blockchain services, cryptocurrencies, and digital assets. “

The Fintech company, through a BaaS and e-money platform model, allows third parties to provide financial, payment, and token issuance services.

The firm intends to become the reference open-market and cross-border operator in the open banking and the virtual payments sector, bringing its solutions to global markets with a sharp focus on fast-growing ones (MENA and Eastern Europe).

These key markets present various opportunities for global operators as they have a population with low average age, fast demographic growth, high mobile penetration, and significant literacy on technologies related to payment systems.

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