BaaS Fintech BKN301 Raises €15M Series A at €63M Valuation
San Marino-based BaaS fintech BKN301 closed a €15 million Series A round in July 2022, valuing the company at €63 million. The round was backed by prominent investors including Abalone Group, PayU, Azimut Digitech Fund, CRIF, and GNB Swiss Investments AG, alongside several individual investors. The Series A came just months after BKN301 completed its initial seed funding round.
BKN301 operates a BaaS and digital e-money platform that enables third parties to offer financial services, payments, and token issuance. The company plans to deploy the capital toward developing its open banking platform's technological infrastructure. A key strategic priority is geographic expansion into fast-growing markets, particularly in Africa and the Middle East.
The funding round reflects continued investor appetite for BaaS infrastructure plays during a period when European fintechs raised $13.2 billion in venture capital in H1 2022.
- Demonstrates continued investor interest in BaaS infrastructure platforms even amid broader 2022 market cooling
- Signals growing demand for embedded finance and BaaS solutions in underserved markets like Africa and the Middle East