Finnish fintech startup Enable Banking raises €600k in funding by Wellstreet
Enable Banking, a Nordic fintech startup based in Espoo, Finland, has raised €600,000 in its latest investment round. The Wellstreet fintech fund led the round, Forward VC participated, Finextra reports.
- Founded in 2019 by Fedor Tyurin and Joonas Tomperi, Enable Banking is a financial connectivity platform. It develops next-generation financial infrastructure via APIs for open banking capabilities across European banks. The company aims to empower its customers, not develop competing products, making them in charge of their own data and business models.
- Since its pre-seed funding in 2020, the company grew from 7 members to 14, working remotely from 7 different countries. According to the company, its APIs have already been integrated by 300 banks across 10 countries.
“With Wellstreet, we have been able to speed up our growth with their deep understanding of the financial industry and B2B sales. In addition, Wellstreet has been super helpful with industry introductions and support for us, founders,”Joonas Tomperi, the founder and CEO of Enable Banking, comments.
- Wellstreet Fintech Fund led the current funding. It is a Swedish venture capital fund managed by Wellstreet Partners. The fund targets 20 companies in fintech, infrastructure technology, and B2B sectors. Forward VC, a Dutch venture capital fund investing in early-stage companies in the US and Europe, participated in the round.
- The fresh funding will allow for the development of Enable Banking’s infrastructure, technology, and further international expansion into the EU.