Polish open banking startup FIZEN raises €530k in new seed round

The Polish-based startup FIZEN has raised €530,000 (2.5 million złoty) during the seed funding round from LT Capital and Perpetuum Inc. The startup develops and launches an integrator of open banking services in the CEE region, Fintek.pl reports.

  • Founded in 2021 by Maciej Krasowski, FIZEN develops an integrator connecting bank APIs and external service providers. Ultimately, the company wants to act as a bridge between traditional finance and innovative technologies such as blockchain and DeFi based on it.
  • The solution is helpful for business clients who provide retail services, as it saves them time and resources related to integrations with banks. Thus, FIZEN provides an opportunity to offer better products and services.
  • Currently, FIZEN operates in three countries: Poland, the Czech Republic, and Slovakia. Romania is next on the list.
  • LT Capital, the Krakow-based seed fund, Perpetuum Inc., the investment arm of CSHARK, and several angels are the investors in this round. LT Capital has recently invested during a €280,000 round for Polish ecotech startup ZNIKA.
  • With the funding, FIZEN will extend integrations to other countries. It also begins to build partnerships to obtain a PISP (Payment Initiation Service Provider) license, which will enable A2A (account-to-account) payments.