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Fintech SaaS provider Toqio secures €20 million in fresh funding

Fintech SaaS provider Toqio secures €20 million in fresh funding

London headquartered Toqio has secured €20 million for its software-as-a-service model for building embedded banking services.

The Series A funding round is led by AlbionVC and includes Aldea Ventures, alongside previous investors Seaya, Speedinvest, and SIX FinTech Ventures.

Toqio’s platform removes the need to build and manage complex software through its SaaS platform and its marketplace. The company counts 50 customers, including Crealsa, Paysme and MovePay.

Toqio’s Marketplace provides a place to incorporate curated fintech modules from the likes of Clear.Bank, Currencycloud, Modulr, and Railsr.

The fintech SaaS provider recently announced a series of new senior hires in London and Madrid, with its team scaling to over 100 in the past year. It also launched into the Spanish market after securing a €1.3M grant from the Spanish Centre for the Development of Industrial Technology.

Eduardo Martinez Garcia, CEO & co-founder of Toqio, comments: “After rapidly growing our team and entering the Spanish market, we’ll now be broadening our focus within Europe, including expansion into France and Germany. We aim to become the world’s premier fintech SaaS platform, giving our clients the ability to create, customise, and launch bank-grade digital finance solutions, enriched by our Marketplace of reputable and trusted partners.”

[Source Finextra]

Written by Jason Flair