Fimple Raises £9.7m to Fuel Further Global Expansion
Deal News | Feb 04, 2025 | Business Cloud
Fimple, a London-based cloud-native core banking software provider, has secured £9.7 million in a Series A funding round to support its global expansion strategy. Having achieved successful market entries in Egypt and the GCC countries, the raised capital will be allocated towards product development and scalability. Led by DN Capital and Smartfin, with contributions from existing investors, the funding round aims to empower financial institutions with customizable and rapid deployment banking solutions, including Sharia-compliant finance modules. Fimple's CEO Mcahit Gndebahar highlighted the venture's commitment to enhancing its core offerings, with support from partners like DN Capital, who emphasized the push for financial institutions to modernize legacy systems to maintain competitive advantage.
Sectors
- Financial Technology (FinTech)
- Banking Software
Geography
- United Kingdom – Fimple is based in London, UK, which serves as its primary operational and strategic base.
- Middle East, particularly Egypt and GCC – Fimple has expanded into markets like Egypt and the GCC, underscoring its geographical expansion strategy in these regions.
Industry
- Financial Technology (FinTech) – The article features Fimple, a company delivering technological solutions to financial institutions, thus aligning with the FinTech industry classification.
- Banking Software – Fimple specializes in core banking solutions, relevant to the banking software sector as it provides customizable, cloud-native products for banks.
Financials
- £9.7 million – The amount raised by Fimple in its Series A funding round aimed at product development and global expansion.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fimple | Target | Company | A cloud-native core banking software provider headquartered in London, seeking to expand its market reach. |
| DN Capital | Investor | Company | A leading investment firm that co-led Fimple's Series A funding round, providing financial backing for the company's growth. |
| Smartfin | Investor | Company | An investment firm participating in Fimple's Series A round to support its expansion and product development. |
| Mcahit Gndebahar | CEO | Person | The Chief Executive Officer of Fimple, guiding the company's strategic vision and expansion plans. |
| Guy Ward Thomas | Partner | Person | A partner at DN Capital, involved in supporting Fimple's growth through financial investment. |