Yapily is one of the fintech startups that are offering an opening banking API so that enterprises like merchants or financial service providers can connect to the banks. Recently, in the Series A funding, Yapily has raised $13 million. Lakestar is leading the round, and it is a backer of fintech unicorn Revolut as well.
LocalGlobe and HV Holtzbrinck Ventures, the existing investors, also participated in the round. In May 2019, Yapily revealed $5.4 million in seed funding and also considered the likes of the Ott Kaukver, Taavet Hinrikus, Frank Strauss, and Roberto Nicastro.
Yapily was founded by an ex-Goldman Sachs employee named Stefano Vaccino in mid-2017. This open banking platform has made it simper for different service providers to communicate with the banks. Particularly, it also provides a process to get back the financial data as well as to start the payments through a single secure API.
Customers and users are said to include Fortune 500 companies as well as fast growth fintech, which include Intuit Quickbooks. Here, the API of Yapily is utilized by the accounting software provider to assist the SMEs accessibility insights as well as the financial information from the bank accounts in Ireland, France, and the United Kingdom. Yapily’s another customer is GoCardless, which is a London fintech and makes it simpler to offer the customers an excellent option to pay by the debit directly.
Broadly, this open banking fintech explains that it will utilize the investment properly so that it can become easier to drive the open banking adoption by several organizations throughout Europe.