The funding will help Yapily expand across Europe. Here are the top-line bullets you need to know.
Yapily, a fintech company, has raised $51M in a Series B that drew participation from Sapphire Ventures, Lakestar, HV Capital, and Latitude.
How’s the company performing?
- UK-based Yapily provides an open banking API that allows companies to connect with banks to receive financial data and send payments.
- Several brands like QuickBooks, GoCardless, American Express, BUX, Volt, Moneyfarm, and Vivid Money rely on Yapily to deliver products and services.
- The company covers around 1,500 banks in the UK, France, Spain, Germany, Ireland, Austria, Italy, and the Netherlands.
Why does the market matter?
- The global fintech market is projected to grow at a CAGR of 22.2% and reach a value of $305B by 2025, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides enormous growth to service providers and first movers.
- Q2’21 was the largest funding quarter for fintech on record. Across 657 deals, global VC-backed fintech companies raised a record $30.8B, shattering last quarter’s funding record by 30%. This impressive funding growth was accompanied by a modest 2% deal growth quarter-over-quarter (QoQ) and a 29% increase year-over-year (YoY).