Five Degrees, a Breukelen, The Netherlands-based financial technology provider, raised €10m in venture capital funding.
The round was led by Karmijn Kapitaal with participation from 5square and Velocity Capital.
The company intends to use the funds to continue to expand operations investing in product development and international expansion.
Led by Martijn Hohmann, Chief Executive Officer, Five Degrees provides Matrix, a Web-based BPM (Business Process Management) automated banking services platform supporting any segment, product or channel through a mid office environment, connected to any (legacy) back-office, or the available Matrix back office. The platform integrates with any external service like KYC checks, passport validation, PFM, etc. or any external banking services requested.
Clients deploy the technology through a portal in a number of pre-defined ways including full retail and SME banking, savings bank, private banking or micro finance.