figo, a Humburg, Germany-based banking service provider, raised a funding round of undisclosed amount.
Berliner Volksbank Ventures made the investment joining a group of investors including angels and DB1 Ventures, the investment vehicle of Deutsche Börse.
The company will use the funds to continue to expand its operations.
Led by André M. Bajorat, CEO, and Sebastian Tiesler, CPO, figo is building a banking API that enables partners to connect to banks and other financial services. It currently connects 3,100 sources of finance with over 55 million users.
In addition to the Banking API, the company offers clients and partners various products and services within the context of the amended Payment Services Directive 2 (PSD2).