Yapily secures £37.4m Series B funding led by Sapphire Ventures to expand open banking across Europe
Sapphire Ventures led the Series B round with participation from existing investors Lakestar, HV Capital and Latitude.
Yapily provides open banking infrastructure that allows companies to access financial data and initiate payments. The firm supports digital transactions and account services across multiple European markets.
Yapily has secured £37.4m in Series B funding to accelerate its expansion across Europe and develop its open banking platform. The investment was led by Sapphire Ventures, with ongoing participation from existing backers including Lakestar, HV Capital and Latitude.
The capital injection follows a period of significant expansion for the company, driven by a surge in online commerce and account-to-account payments during the pandemic. Yapily plans to use the funds to enter new markets such as France and Spain while growing its engineering team over the coming months.
From the founder
"We are delighted with this strategic investment, demonstrating Yapily’s position at the heart of disrupting global financial infrastructure. As we got to know Sapphire Ventures, it was clear that they are hugely supportive of our strategic approach and share our vision of open finance. Open Banking infrastructure is fundamental to how data and payments move between organisations worldwide, and it will shift the power to consumers for years to come. We are only starting to scratch the surface of what’s possible."
Stefano Vaccino
CEO and Founder at Yapily
Investor perspective
"We have been following open finance and the tremendous opportunity it presents in Europe and beyond for some time. FinTech is evolving from a vertical to a horizontal sector as companies in many verticals are moving to embed financial services into their offerings. This is a trend we believe is here to stay and relies on the development of a robust financial infrastructure layer."
Andreas Weiskam
Partner and Co-founder, Sapphire Ventures
Use of funds
- 01Expand into international markets
- 02Build out infrastructure
- 03Grow the team
