FinTech innovator fonYou, which provides payment and lending platforms, has secured €7m in funding from Banco Santander’s – the Spanish arm of Santander Group – Smart Fund.
Banco Santander’s Smart Fund will fund fonYou’s ambitious product development programme and strategic roadmap, as it expands its sector focus beyond telecoms to integrated digital finance enablement across global FinTech and ec-ommerce markets.
Banco Santander’s Smart Fund is an exclusive financing initiative that supports eligible SMEs in the development and execution of strategic growth plans for sustainable, innovative digital initiatives with strong job creation potential.
fonYou’s innovation roadmap is focused on delivering new technologies to enable the deployment of embedded finance solutions – including instant payment, Buy Now, Pay Later, and emerging credit modalities – in partnership with connected mobile operators, ecommerce, and the wider global banking ecosystem.
Fernando Núñez-Mendoza, co-founder and CEO of fonYou said, “With the support of the Smart Fund, we will accelerate the expansion of our team and drive product development, as well as our international commercial strategic plan. Our first objective is to provide a new generation of users with access to the digital economy and e-commerce through open, secure financial solutions designed for mobile devices.”
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