Fintecture (Future 40) raises 7,5M$ to accelerate its European development

Here’s a new raise for a Future 40 startup! Fintecture, part of HEC program and selected as one of the 40 most promising companies of STATION F in 2020, announced today a $7.5M Seed round raise led by Target Global joined by Samaipata and Société Générale and a number of high-profile operators and founders from leading financial and tech institutions such as Adyen, Affirm, American Express, Facebook Payments, Google, PayPal, and Snapchat.

Created in 2018 by Tatiana Rozoum, Anjan Som, Faysal Oudmine and Reda Charai, Fintecture is building the next-generation payment infrastructure enabling merchants to bypass card ceilings, technical declines and fees. Each year, merchants lose $270 billion to payment providers for these reasons. So Fintecture has created an innovative payment system where no other intermediaries are involved.

Fintecture “is to traditional payments what smartphones are to cell phones”

“The payment industry is going through a deep transformation. The payment infrastructure we deploy is to traditional payments what smartphones are to cell phones: fund transfer is the basis, but the added value lies in the adjacent services”, says Faysal Oudmine, co-founder and CEO at Fintecture.

Only a year after its commercial launch, Fintecture is already meeting success with over 500 merchants attracted yet. With this funding round, Fintecture intends to augment its infrastructure with new services, such as Buy Now Pay Later, hire 30 new talents and accelerate its European deployment and reach 10,000 merchants.

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