Yapily raises USD 51 mln in Series B funding

The company will use the funding to expand across Europe, extending Open Banking to cover 95% of the continent by the end of 2021; and will continue to invest in its infrastructure to pave the way for Open Finance, creating financial inclusion for all. The investment is led by Sapphire Ventures. Primarily investing in Series B through IPO technology companies, Sapphire supports the growth of the API infrastructure category. Existing investors Lakestar, HV Capital, and Latitude have also participated in the round. 

Yapily will use the funding to enter new markets including France and Spain, while continuing to invest in existing markets (UK, Italy, and Germany) where it has already established a strong presence with a rapidly increasing customer base. In 2022, Yapily will expand to markets beyond Europe as Open Finance regulation is implemented globally and consumers begin to benefit from an open financial ecosystem. The company will also continue to invest in its product and people, with a focus on growing the size of its engineering capabilities over the next 12 months.