FintechOS raises $28M in equity and debt after turning profitable

FintechOS, a London-based company founded in Romania that sells AI software to banks and insurers, has raised $28M in a mix of equity and debt.

Existing investors Bek Ventures, IFC, Cipio Partners, and Molten Ventures put in the equity, while Santander CIB provided a senior debt facility.

The funds will be used to expand in the US, secure more European clients, and increase the size of the team responsible for delivering the platform.

The fundraising event takes place after the first half of 2026, during which FintechOS stated that it had become profitable.

The company stated that recurring revenue increased by 40% year-on-year during those six months and that its US business grew by 130%. The operational EBITDA more than doubled during that period. FintechOS provided the growth rates but not the absolute revenue figures.

Moreover, the company did not achieve profitability as early as it had originally anticipated. At the time it raised a $60m Series B extension in 2024, FintechOS stated that it was on course to break even that year.

The software is built on the fundamental systems that banks and insurers currently use, enabling them to design, price, launch, and deliver their products without replacing that infrastructure.

“Growth and profitability go hand in hand, not at the expense of one another,” said Teo Blidarus, Founder and CEO of FintechOS.

The current version, FintechOS 8, entered customer preview in April, and the company expects to sign more than 20 new financial institutions this year, which it says would be a record.

In the United States, the company has entered into a partnership with Finxact, the core banking service owned by Fiserv, in addition to its previous agreement with Finastra Phoenix, thereby gaining access to banks and credit unions.

At the same time, it is altering its project delivery method by sending small teams, consisting of one consultant and one engineer, to work directly within its clients’ product teams.

“Reaching profitability was not an accident; it was the outcome of a deliberate, multi-year effort to get our cost base, our margins and our delivery practice right before we pushed harder on growth again,” said Cyril Desouza, CFO of FintechOS.

If a company raises a round with the help of a bank, the new money will have less impact on existing shareholders, and this option is generally available once the company becomes profitable.

Teo Blidarus and Sergiu Negut founded FintechOS in 2017; the company raised a $14m Series A in 2019 and completed two rounds of $60M funding in 2021 and 2024, and has offices in London, Bucharest, and New York.