Global tech provider FintechOS has announced $60 million Series B funding.

The money will primarily be used to further cement the company’s position in Europe and the UK. But the funds will also go towards an international expansion in the Asia-Pacific region, the Middle East, Africa, and North America.

The funding will help pay for new offices in the USA, Dubai, and Singapore, alongside 120 new staff members. According to the company, this will result in a 40 per cent increase in overall headcount.

The business also plans to use the funding to expand its core systems capabilities in banking and insurance, strengthening the low-code self-service proposition and personalisation through AI and machine learning in customer journeys and product and services offerings.

“When we launched FintechOS in 2017, we could already see existing solutions to digital transformation would struggle to deliver tangible results,” said Teodor Blidarus, co-founder and chief executive at FintechOS. “By contrast, our unique approach has quickly inspired a sea-change in how financial institutions address digitisation and engage with their customers.

Blidarus added: “Events over the last year have only increased pressure on our industry to evolve and as a result we’re seeing growing demand for our powerful platforms. Our latest round of funding will help us grow at the pace needed to improve outcomes for financial institutions and their customers globally.”

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