Fabrick, an open finance operating company, this week announced the acquisition of finAPI GmbH, a German open finance solutions provider. Founded in Munich in 2008 to develop solutions for the aggregation and analysis of financial data, finAPI serves more than 350 clients, including banks, financial service providers, Fintech companies, insurance companies, and software providers in Germany, Austria, Czech Republic, Slovakia, and Hungary. This builds on Fabrick’s presence in Italy, Spain, and the United Kingdom.
The operation was carried out with SCHUFA Holding AG, from which Fabrick acquired 75% of finAPI. The other 25% of the shares will remain with the two founders of finAPI, Dr. Florian Haagen and Dr. Martin Lacher, who will both continue to play a role in the unified entity.
Fabrick’s revised client base now tops 800. The total payment volume surpassed 65 billion euros, and more than 11 billion API calls.
“These numbers are of particular importance considering that payments and their digital evolution represent the most significant component in setting up new service models and B2B and B2B2C relationships,” Fabrick said. “Acutely aware of the growing demand for secure and flexible transactions, European businesses across a range of sectors are increasingly adopting embedded finance models to deliver economic efficiency within their organization, while simultaneously offering a seamless payment experience for their customers.”
“The acquisition of finAPI, following the recent capital increase with Mastercard and Gruppo Reale Mutua and the acquisition of JudoPay in the United Kingdom, represents another significant milestone for Fabrick, enabling the proliferation of the internationalization strategy defined since our inception,” CEO Paolo Zaccardi said. “It allows us to enter the DACH Region, an area of strategic importance in allowing us to scale up our operations and seize the growing opportunities offered by the sector in which we operate. This operation is also a further step in expanding our offering, which now covers the entire value chain of open finance services.”
The strategic importance of the German market is also confirmed by the results of the study Embrace Embedded Finance For Seamless Payment Success: A Spotlight On Europe, conducted by Forrester Consulting for Fabrick. Of the 126 German decision-makers and managers interviewed, 74% stated they would invest or increase investments in payment acceptance solutions in the next 24 months. Specifically, 77% of the sample said that they would assign a high priority to payment orchestration solutions and 71% to solutions for accepting account-to-account payments via API.
“Over the past three years, we have worked intensively with the goal of creating the greatest possible value for individuals and businesses,” SCHUFA CEO Tanja Birkholz said. “Technology plays an important role in developing customer-oriented products and services, and this requires strong partners capable of focusing on technological development.
“In this sense, Fabrick represents the ideal partner for the further development of finAPI. We know the needs of our customers, and Fabrick and finAPI possess the technological know-how to meet them, allowing them to benefit from further product developments in the field of open banking.”
“The operation with Fabrick, characterized by its European approach, offers great opportunities for all,” Haagen added. “Together with the German market business, we will continue to actively shape the future of open finance in Europe.”
The transaction remains subject to approval by the German and Italian supervisory authorities.
finAPI will remain independent and regulated in Germany and will continue its strategic collaboration with SCHUFA for the development of open finance in the German market.
