Yapily, a London, UK-based fintech startup, raised $5.4m in seed funding.
Backers included HV Holtzbrinck Ventures and LocalGlobe.
The company intends to use the funds to expand its tech team, build a sales team and respond to the demand from potential customers.
Led by CEO Stefano Vaccino, Yapily is advancing an API platform for fintechs and enterprises to connect to all retail banks’ open API retrieve financial data and initiate payments.
The system is currently connected via API to 35 of the biggest banks in Europe, both for data retrieval and payments initiation.
By year end, Yapily expects to have connected to 536 banks.
Customers include accountancy firms, companies in the payment space, crypto currency providers, digital wealth applications and e-commerce companies.