Konsentus secures multi-million-pound pre series a funding led by Mastercard to accelerate European expansion.
The financing round was led by Mastercard and will support accelerated growth across Europe.
Konsentus provides regulatory technology solutions that help financial institutions verify third party permissions for open banking. The company protects banks and financial services firms against fraud and data breaches.
London based regulatory technology provider Konsentus has secured a multi-million-pound pre series a financing round led by Mastercard alongside participation from other backers. The fresh capital will be deployed to drive accelerated commercial expansion across European markets as financial institutions face deadlines to meet open banking rules.
The company reports strong underlying demand within the sector, pointing to thousands of financial entities across Europe that require compliance solutions. Following this injection, leadership intends to introduce additional product offerings later in the year before pursuing a formal series a raise in late 2019.
From the founder
"The RegTech market is growing at 45%+ per annum and with 9,000+ Financial Institutions in Europe that must deliver PSD2 open banking, the demand for the Konsentus service is significant and this investment will support an accelerated growth plan across Europe. With plans to launch new related services later in 2019 and international expansion in due course, we will be pursuing a Series A financing round in late 2019"
Mike Woods
CEO at Konsentus
Investor perspective
"We see significant potential for the Konsentus service as Open Banking evolves both in Europe and globally."
Jim Wadsworth
SVP of Open Banking, Mastercard
Use of funds
- 01Expand into international markets