Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Bulgarian FinTech phyre raises €1.55 mn to boost its e-wallet platform

Bulgaria-based FinTech phyre has secured a funding of €1.55 million in a funding round led by VC fund, New Vision 3 Fund along with private investors and the Bulgarian American Credit Bank. The capital raised is expected to strengthen the development and deployment of its banking and payment e-wallet platform. It will also enable the FinTech to provide a business model combining SaaS, PaaS and BaaS and offer value-added products along with it.

Konstantin Djelebov, Co-founder and CEO of phyre, said, “When choosing partners, shared vision and values are more important than money. I’m convinced that with New Vision 3 great track record in scaling companies and BACB’s experience with both enterprise and retail clients, we will be in a much stronger position to accomplish phyre’s mission to enable our customers effortlessly execute secure payments and manage their money.”

Founded in 2017 in Sofia, phyre aims to enable large enterprises to launch their digital wallet and offer financial services in a cost-efficient manner. It allows its users to open a payment account with personal IBAN, order a physical or virtual Mastercard and facilitate contactless payments with their phone anywhere in the world. It also digitalises all loyalty cards and offers a suite of merchant services to its retails partners.

Konstantin Petrov from New Vision 3 said, “FinTech is one of the core market verticals in the investment strategy of our new fund -NewVision3 Fund – and digital payments and wallets are one of the highest growing niches within FinTech; it was therefore quite natural to look at phyre as the leading, and technologically most advanced, digital wallet company in Bulgaria. Coupled with the extremely experienced and trustworthy team, we believe the Company fits perfectly into the VC model and is destined for future success”.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »