What happened: The banking-as-a-service orchestrator provider BKN301 has announced fresh €21.5 million funding from various investors (EU Startups). The company is headquartered in London, but its roots are in the Italian region, with offices in Milan and San Marino. The company places a strong emphasis on the Middle East and North Africa (MENA) region.
My comment: BKN301 has already secured a €15 million funding round in July 2022, bringing its total funding to at least €36.5 million, which places it among other well-known banking-as-a-service providers (Finextra). BKN301 is not well-known, likely due to its focus on the MENA region and its emphasis on financial institutions, which results in a limited number of deals, as it lists only eight customers on its website. From what I have gathered, the company is currently a pure tech player without a license (some of the messages on their website indicate their own licence, but I could not verify this - maybe an Italian e-money license?) and is currently only working with regulated companies, such as traditional banks and neobanks.
