BKN301 Group, a fintech company specializing in Banking-as-a-Service (BaaS), has successfully closed a capital increase of $23.8 million. This funding aims to support the company’s global expansion, particularly into the United Arab Emirates and Saudi Arabia, while also enhancing its proprietary BaaS Orchestrator platform.

The investment round was underwritten by key players, including CDP Venture Capital SGR, Azimut Libera Impresa SGR, SIMEST, and Alisei Forinvestments led by Aldo Fumagalli. The Series B funding also attracted new institutional and private investors, building on previous investments from firms such as SM Capital, Prosus Group, and the Abalone Group.

BKN301 has made significant strides in high-growth markets, achieving operational break-even and reporting gross revenues of €18.4 million in 2024, marking a 51% year-over-year increase. The company’s net revenues saw an impressive growth of 236% year-over-year, with a total growth of 187% since its market entry in 2021.

The company serves traditional banks, fintechs, and digital banks by integrating innovative, scalable solutions. Its BaaS Orchestrator platform includes services like core banking, payment processing, and open banking, enabling seamless integration with third-party systems.

As reported by ZAWYA, Stiven Muccioli, Co-Founder and CEO of BKN301 Group, emphasized that the involvement of new major investors and ongoing support from existing ones signals strong confidence in their business model. He noted that closing a Series B round in the current market is a significant milestone that initiates a new phase of growth for the company.

Enrico Filì, Head of the Digital Transition Fund at CDP Venture Capital, highlighted BKN301’s role in fostering innovation in fintech, stating that the company is recognized for its excellence on a global scale. He expressed confidence in BKN301’s ambitious objectives and the company’s potential to further enhance the fintech landscape.

With a forecasted compound annual growth rate (CAGR) of 36% for EBITDA by 2028, BKN301 aims to deliver innovative payment and financial services that are user-friendly and accessible to a growing number of operators and their customers.