Modularbank

History

2020: Attraction of €4 million investments

At the beginning of December, 2020 Estonian financial that-startup Modularbank received financing in the amount of €4 million. As the main investors Karma Ventures and BlackFin Capital Partners with assistance of Plug and Play Ventures, Siena Capital and Ott Kaukver acted (the former technical director Twilio and Skype). Support of investors lays to Modularbank a way to other countries Europe and the world, allowing to strengthen already taken positions.

The bank Modularbank platform which is not depending on cloud computing allows banks, financial that to the companies and any other business, for example retail dealers, utility companies or suppliers of telemedicine services, to integrate modular banking technology into the existing infrastructure. Using Modularbank, they can implement the innovation financial services which reflect needs of their clients in the service.

Modularbank financial technical-startup command

The CEO of Modularbank to Vilve Vene noted:

More flexible and convenient services which correspond to their style of work and life even more often are required for people. The need for compact, but difficult basic banking technologies results, and Modularbank which allows the banks and other companies working with clients quickly exactly here comes to the rescue and to easily develop and implement the personalized banking services.

From the moment of the foundation in 2019 Modularbank already reached impressive growth, and the company purchased a number of influential clients, including one of the largest financial companies in Finland. Modularbank became also recently the partner of Nets, one of the companies, largest in Europe, in work with payment cards.

Originally received investments will be used for opening of new offices in Great Britain, France and Southern Europe. In the company 35 employees across the whole Europe already work, and by the end of 2021 it is going to increase number of staff up to 100 people.^[1]

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