FinTech SaaS provider Toqio has raised €20m from a Series A funding round headed by AlbionVC.
Also taking part in the round were Aldea veNTURES, Seaya, Speedinvest, SIX FinTech Ventures and a number of angel investors.
The €20m also included a €1.3m grant from The Centre for the Development of Industrial Technology, which is a public organisation for technology development in Spain.
With an explosion of innovative FinTechs and financial service providers entering the market over the past five years, Toqio claims it has been built to help make these services more accessible through its low-code platform, designed to build and launch new banking and finance solutions quickly and easily.
Toqio allows any business, not just banks, to launch embedded finance solutions for their business or consumer customers in a matter of days. It removes the need to build and manage complex software through its SaaS platform and its marketplace.
Toqio’s Marketplace provides a place to incorporate curated fintech modules into a solution, offered by leading financial service providers.
Toqio CEO and co-founder Eduardo Martinez Garcia said, “After rapidly growing our team and entering the Spanish market, we’ll now be broadening our focus within Europe, including expansion into France and Germany. This new funding round will enable us to keep evolving and delivering on our vision: we aim to become the world’s premier fintech SaaS platform, giving our clients the ability to create, customize, and launch bank-grade digital finance solutions, enriched by our Marketplace of reputable and trusted partners.”
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