Fabrick has executed the next stage of its international growth and consolidation strategy by acquiring 75% of finAPI, a leading German operator of Open Finance solutions.

This strategic move aims to drive forward the innovation of European businesses by enabling new embedded finance service models. The operation, subject to approval by the German and Italian supervisory authorities, is valued at an undisclosed amount.

The acquisition marks Fabrick’s significant expansion into the strategically important DACH region, solidifying its position as a key player in Europe’s Open Finance segment.

Fabrick’s collective client base now exceeds 800, with a total value of payments traded surpassing 65 billion euros and more than 11 billion API calls in 2023, reinforcing its leading position in Italy and Germany.

The transaction underscores the growing demand for secure and flexible transactions, driving the adoption of Embedded Finance models across European businesses.

Notably, Fabrick’s recent capital increase with Mastercard and Gruppo Reale Mutua, along with the acquisition of JudoPay in the United Kingdom, highlights its commitment to internationalisation and strategic growth.

Paolo Zaccardi, CEO of Fabrick, stated, “This agreement to acquire finAPI, following the recent capital increase with Mastercard and Gruppo Reale Mutua and the acquisition of JudoPay in the United Kingdom, represents another significant milestone for Fabrick, enabling the proliferation of the internationalisation strategy defined since our inception. It allows us to enter the DACH Region, an area of strategic importance in allowing us to scale up our operations and seize the growing opportunities offered by the sector in which we operate. This operation is also a further step in expanding our offering, which now covers the entire value chain of Open Finance services.”

Tanja Birkholz, CEO of SCHUFA, stated, “Over the past three years, we have worked intensively with the goal of creating the greatest possible value for individuals and businesses. Technology plays an important role in developing customer-oriented products and services, and this requires strong partners capable of focusing on technological development. In this sense, Fabrick represents the ideal partner for the further development of finAPI. We know the needs of our customers, and Fabrick and finAPI possess the technological know-how to meet them, allowing them to benefit from further product developments in the field of Open Banking.”

Florian Haagen, CEO and Co-founder of finAPI, added, “The operation with Fabrick, characterised by its European approach, offers great opportunities for all. Together with the German market business, we will continue to actively shape the future of Open Finance in Europe.”

The transaction remains subject to approval by the German and Italian supervisory authorities. finAPI will remain regulated in Germany and will continue its strategic collaboration with SCHUFA for the development of Open Finance in the German market.

 

Fintech Global

Image :  finapi.io

Leave a Reply

Your email address will not be published.