Fimple raises $10m to accelerate international expansion across GCC

By Puja Sharma

Fimple has raised $10 million in a follow-on investment round to support its international expansion, with a strategic focus on the GCC and wider MENA region.

The round was led by Ak Asset Management VC Fund, with continued backing from existing investors DN Capital, Smartfin and APY Ventures.

Founded in 2022 and headquartered in London and Istanbul, Fimple built a fully composable, cloud-native core banking platform that could be deployed both in the cloud and on-premise. The platform enabled banks, FinTechs and financial institutions to build, launch and scale digital financial products.

The investment followed the launch of Fimple’s commercial offices in Dubai and Riyadh and was intended to accelerate its expansion across the GCC. The company said the funding would also strengthen its capital structure and support continued growth across international markets.

Fimple said it planned to scale its regional presence, local partnerships and delivery capabilities across the GCC, while expanding deployments of its core banking, digital lending, BNPL and Banking-as-a-Service offerings. Part of the funding was allocated to ongoing product development, ecosystem integrations and regulatory readiness tailored to GCC market requirements.

Commenting on the announcement, Mücahit Gündebahar, CEO of Fimple, said, “This follow-on investment is a strong validation of our vision and execution. With Ak joining our investor base, we are further strengthening our ability to scale responsibly and strategically. The GCC is a key growth market for us, where demand for composable and cloud-native core banking platforms is accelerating. This investment enables us to deepen our regional footprint and support more institutions as they modernise and innovate.”

Jürgen Ingels, Partner at Smartfin, commented, “Core modernisation has moved from a multi-year IT project to a strategic growth imperative. Fimple is building the kind of future-ready banking platform that gives institutions the agility to launch new products faster, integrate ecosystems seamlessly, and evolve without friction. We’re proud to continue backing the team as they further accelerate internationally.”