Open API fintech Yapily has raised $13 million - World Finance Council

Open API fintech Yapily has raised $13 million

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Leading enterprise connectivity platform Yapily has today announced that it had raised $13m in a Series A funding round.

Yapily owns Fortune 500 companies and fast growth fintech, including Intuit QuickBooks, where Yapily’s API is practiced by the accounting software provider to assist thousands of its SME customers to access insights and financial information from bank accounts in France, Ireland & UK. IBM and GoCardless are other customers and partners of Yapily.

The fintech will use the investment to encourage open banking appropriation by organizations across Europe. Providing a robust, secure, and powerful connectivity layer that enhances customer experiences and creates financial opportunity.

The investment was led by Lakestar, Airbnb, Facebook, Spotify, and Skype, as well as one by – Revolut. Existing investors HV Holtzbrinck Ventures and LocalGlobe also joined Lakestar in the latest round of financing.

The latest funding comes during a hugely successful period for the London-based fintech. In the last six months, its monthly recurring revenue has risen by over 500%; quadrupled its headcount in London to 45. And spread into Italy, Ireland and France. As it works towards total market coverage in Europe, with new territories added regularly.

Stefano Vaccino, Ex-Goldman Sachs employee and Founder of Yapily, said: We believe open banking is a force for good. Using our API and infrastructure, we’re not only providing our partners with reliable and robust connectivity. But we’re also giving their customers, whether they be consumers or businesses, greater control of their finances. Through the creation of products and services which can fuel higher financial management and accessibility. Something more essential than ever during this period of uncertainty.

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