FinTecSystems, a Munich, Germany-based provider of critical data and analysis to the financial services industry, secured its seven-figure Series A funding round.
The round was led by Littlerock and Ventech, with participation from previous investors MenschDanke Capital and Heilemann Ventures.
The company intends to use the funds to grow internationally.
Founded in 2014 by Stefan Krautkraemer, CEO, and and Dirk Rudolf, FinTecSystems provides financial institutions such as banks, and financial and payment service providers, with real-time financial data analysis that creates an accurate overview of a consumer’s financial situation and creditworthiness and reduce the loan application process.
Customers include Solaris Bank (bank), Finreach (account switching services), Lendico (loans) and Deutsche Telekom (telecoms).