Ndgit, a Munich, Germany-based banking software platform, raised €4m in Series A funding.
The round was led by Capnamic Ventures with participation from PROfounders and existing investors Dieter von Holtzbrinck Ventures and business angels.
The company intends to use the funds to expand the team to 50 employees and systematically expand its product portfolio.
Led by Oliver Dlugosch, Founder and CEO, Ndgit provides banks and insurers with an open banking platform to connect to new business models and to share data in accordance with PSD2. Customers include the Swiss bank Hypothekarbank Lenzburg and Germany’s Bank für Sozialwirtschaft. In addition, NDGIT offers companies with digital business models, such as mobile.de, the chance to establish their own banking processes and to connect to banking systems.