United Fintech, a Copenhagen, Denmark-based neutral industry digital transformation platform provider, received an investment from BNP Paribas and Citi.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its development efforts.
Founded in 2020 by CEO Christian Frahm, United Fintech provides a neutral industry digital transformation platform that connects global financial institutions and technology providers in the finance sector. It acquires engineering-led fintechs within Capital Markets, Wholesale Banking and Wealth Management under a central place. In four years, the company has acquired five fintechs.
Commenting on the news, Christian Frahm said: “More than a significant milestone for United Fintech, the backing of Citi and BNP Paribas is a testimony of forward-thinking leadership. As momentum builds, we project that more financial institutions will soon follow: Our vision of a neutral industry platform for digital transformation, to swiftly enable access to the world’s most innovative fintechs, is shared by every single C-level executive we’ve spoken with for the past four years, and their support energises our pursuit of a unified ecosystem.”
FinSMEs
28/02/2024