BKN301 rakes in €15m Series A financing

BKN301, a startup in the payments and BaaS space, has bagged €15m in a Series A funding round headed by Abalone Group.

The round also saw participation from Azimut Digitech Fund, GNB Swiss Investments, CRIF and PayU. Following this round, BKN301 is valued at €63m.

BKN301 enables third parties to offer financial, payment and token issuance services. Currently, the firm is focusing on the thriving markets of Eastern Europe, the Middle East and Africa.

BKN301 CEO Stiven Muccioli said, “Closing this new round based on the support of highly-experienced investors confirms the validity of our project, which has always focused on fast-growing markets.

“Thanks to this massive recognition, we will continue to provide, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential. Being characterised by a low level of banking services, they can significantly benefit from adopting new banking technologies — such as digital payments, innovative blockchain services, cryptocurrencies, and digital assets.”

UAE-based digital bank YAP recently collected $41m in fresh funding, with plans to expand into Saudi Arabia.

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