WARSAW, POLAND / ACCESSWIRE / June 29, 2021 / A "one-stop-shop" powering any data-driven FinTech product that a customer wants to build has raised €1.2 million in its pre-seed round of funding. Among the main investors are Target Global, Entree Capital and a venture capital firm Tiny VC. The company has also received angel tickets from present or former executives at N26. Among them are Lukas Klinser, Timo Meyer and Nicholas Kopp.
The cutting-edge platform will address all the barriers to entry as well as the complexity of the industry to empower new FinTech unicorns.
The platform represents a "FinTech factory" that enables any company, to rapidly and cost-effectively design, create, plugin, and deploy new digital financial products and services. The platform has all the "must-haves" to leverage the power of embedded finance and embedded FinTech: it is component-based as well as API-driven.
TransactionLink's technology addresses the FinTech industry complexity and barriers to entry by streamlining integrations with a broad set of FinTech products. The goal of the company is to create a platform that connects providers of various FinTech functionalities to "compose" a FinTech product tailored to the specific business needs.
The idea for TransactionLink was born while its CEO & Co-founder, Mateusz Pniewski, was working in Berlin at the N26 mobile bank. He noticed that consumers were craving financial solutions that simply would make their life easier, - for example, insurance that can be purchased with one click or the possibility of connecting to a cashback system. However, consumers do not necessarily want to go through the lengthy process of opening a bank account to get access to those features. An infrastructural approach allowing any business that already has consumer attention to serve FinTech seemed more plausible.
Having the bright idea in mind, Mateusz Pniewski, together with Marek Lewandowski, the other co-founder who is also the CTO of TransactionLink, decided to establish the startup company in 2020. Currently, Marek Lewandowski works closely with the development team and sets the direction for TransactionLink's technical enhancements. He has been always attracted to computers, the Internet, and new technologies. Marek decided to pursue his childhood passion by studying computer science at the Polish-Japanese Academy of Information Technology. He has over 7 years of programming experience in financial institutions and rapidly growing technology companies.
The investors strongly supported the innovative idea behind TransactionLink's technology that has a huge potential to revolutionize the capital and banking market around the world and spur a new wave of FinTech unicorns since the developed solutions allow any company or tech enthusiasts to quickly build a dream FinTech product in a very short time.
"We are excited to share the journey with TransactionLink as they leverage open banking and their API-first platform to empower any company to offer financial services and amplify their distribution across markets." - Dr. Ricardo Schaefer, Partner at Target Global.
"We are excited to work with the TransactionLink team as it embarks on building the most critical layer of financial application infrastructure." - Avi Eyal, Managing Partner and co-founder of Entrée Capital.
"Global investors believed in TransactionLink because they know that the FinTech revolution is inevitable and we are able to introduce our clients to the service that is not yet available on the market. This month, we took the first step towards fully expanding our services. In the next round, we should get additional, several times greater support. We work every day to improve our offerings. We want every business, even the smallest one and not related to the finance industry, to develop a product quickly and immediately to be able to compete with the existing leaders." - says Mateusz Pniewski, CEO & Co-founder of TransactionLink.
The forward-looking team of TransactionLink believes that the obtained financing will enable them to advance the technology even further and to expand the team by attracting talents thereby reaching 40 bright-minded specialists in total by the end of this year.
TransactionLink is a cutting-edge platform, which is secure, easy to use, smooth and maybe most importantly - fun to play with. The core capability of the platform is importing data from banks that the user can then access through the API in order to create the FinTech product exactly needed in a plug-and-play manner.
About Target Global
Target Global is an international investment firm headquartered in Berlin, with €1.5bn+ in capital commitments and co-investments. With offices in London, Tel Aviv and Barcelona, the firm connects the key European startup ecosystems and leverages the unique DNA of each of our target geographies, across our global network. Target Global invests across multiple stages, investing in fast-growing tech companies, targeting trillion € markets. The Partners have been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Auto1, Delivery Hero, Omio (formerly GoEuro), Rapyd, TravelPerk, WeFox, and Zego.
About Entree Capital
Entrée Capital was founded in 2010 to provide multi-stage funding to innovative seed, early and growth-stage companies all over the world. Entrée Capital manages over $500m across six funds and has invested in startups such as monday.com, Snap, Stripe, Deliveroo, PostMates, Riskified, FundBox, Toka Cyber, Kuda Bank, Stash, PillPack, Gusto, Cazoo, Coupang, Glovo, and over 80 other companies. With offices in Israel, UK, and the US, Entrée Capital has realized 23 exits and IPOs and its portfolio has 13 unicorns.
About Tiny VC
Tiny VC is a venture capital firm providing early stage investments by Philipp Moehring and Andy Chung. Based in San Francisco, California, United States.
Laura K. Inamedinova
PR Representative from LKI Consulting
Co-Founder & CEO of TransactionLink