Mubasher: Global banking as a service (BaaS) technology provider BKN301 Group has closed a $23.80 million capital increase to expand its global growth plans, including expansion into the UAE and Saudi Arabia.
The capital raise is underwritten by CDP Venture Capital SGR, Azimut Libera Impresa SGR, SIMEST, and Alisei Forinvestments by Aldo Fumagalli, according to a press release.
The firm’s proprietary BaaS Orchestrator platform offers core banking, payment processing, digital wallets, card issuing, API decoupling, cross-border services, open banking, AI and Gen AI, for integration with third-party systems.
Stiven Muccioli, Co-Founder and CEO of BKN301 Group, commented: “The entry of new major investors, alongside the continued support of those who have already believed in our transformative approach, is a powerful endorsement of the strength and scalability of our model.”
“With the new industrial plan, we estimate a CAGR of 36% of EBITDA by 2028 and we aim to bring innovative payment and financial services, usable in a simple and fluid way, to an ever-increasing number of operators and their customers,” Muccioli added.
BKN301 has generated gross revenues of EUR 18.40 million in 2024, marking a 51% year-on-year (YoY) hike. Since its market entry in 2021, the company has achieved 187% overall growth.
In February, the group launched an office in Qatar, serving as its regional headquarters (HQ) for the MENA region.
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