BKN301 Closes €21.5M Series B Round to Fuel Growth and Acquisition Strategy
Deal News | Apr 15, 2025 | CDP Venture Capital
BKN301 Group, a fintech company based in London, with operational presence in Milan, San Marino, and Doha, has successfully closed a €21.5 million Series B round, aimed at funding its further development. The fintech firm specializes in Banking-as-a-Service (BaaS), offering an extensive range of financial services through its proprietary BaaS Orchestrator platform. This funding round witnessed participation from various new institutional, industrial, and private investors, such as CDP Venture Capital SGR, Azimut Libera Impresa SGR, SIMEST, and Alisei Forinvestments, along with support from existing investors like SM Capital and Prosus Group. With these funds, BKN301 aims to propel its development strategy, focusing on both organic growth and strategic acquisitions. The company plans to enhance its BaaS platform and expand into Europe, further building on its success in Africa and the Middle East. BKN301 has reported significant financial growth, achieving break-even at the end of 2024 with a 51% increase in gross revenues year-on-year. As BaaS continues to gain momentum in the financial services sector, BKN301 is well-positioned to capture significant market opportunities on a global scale. CEO Stiven Muccioli and Enrico Fil from the Digital Transition Fund at CDP Venture Capital emphasized the company's robust model and strategic goals for expansion.
Sectors
- Financial Technology (Fintech)
- Investment and Venture Capital
- Banking and Financial Services
Geography
- United Kingdom – BKN301 is based in London, which serves as its headquarters.
- Italy – Italy features prominently due to BKN301's strategic partnership with the digital bank HYPE.
- Middle East and Africa – BKN301 has significant operations and customer reach in these regions.
Industry
- Financial Technology (Fintech) – BKN301 operates within the fintech sector, providing innovative Banking-as-a-Service solutions.
- Investment and Venture Capital – The article involves CDP Venture Capital and other investors participating in BKN301's funding round.
- Banking and Financial Services – Includes BKN301's services like core banking, payment processing, and digital wallets aimed at financial institutions.
Financials
- €21.5 million – Amount raised by BKN301 in its Series B funding round.
- €18.4 million – Reported gross revenues of BKN301 at the end of 2024.
- 236% YoY – Growth in net revenues year-on-year reported by BKN301.
- $60 billion by 2033 – Estimated global BaaS market value according to Allied Market Research.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BKN301 Group | Target Company | Company | A London-based fintech specializing in Banking-as-a-Service. |
| CDP Venture Capital SGR | Investor | Company | Participated through the Digital Transition Fund in BKN301's Series B round. |
| Azimut Libera Impresa SGR | Investor | Company | Invested through the Azimut Digitech Fund in BKN301's funding round. |
| SIMEST | Investor | Company | Invested through the F.394/81 program for international cooperation. |
| Alisei Forinvestments | Investor | Company | An investment entity joining the Series B round. |
| HYPE | Strategic Partner | Company | Partnering with BKN301 to develop digital financial products. |
| Stiven Muccioli | CEO | Person | Co-Founder and CEO of BKN301 Group. |
| Enrico Fil | Head of Digital Transition Fund | Person | Head of Digital Transition Fund at CDP Venture Capital. |