Paris, 16 September, 2021 -- Yapily, the European open banking infrastructure provider, today announces its expansion into France with significant investment, the opening of an office and appointment of an expert team. In entering the market, Yapily’s goal is to provide French banks and the country’s flourishing fintech sector with a platform for innovation and international expansion.
Ahead of its launch into France, Yapily had already developed considerable capabilities in the market. With 100% PSD2 connectivity, Yapily covers more than 85% of French bank accounts, enabling banks, fintech firms and other financial institutions to embed the power of open banking within their products and services. Vivid, the Berlin-based financial platform for investing, banking and saving, already uses Yapily to connect to bank accounts in France.
Julien Lamour, Yapily’s Country Manager in France, said: “Increasingly, the public expect banks and other financial service providers to deliver the same levels of speed, convenience and personalisation found in mainstream mobile apps. Yapily’s proven expertise in open banking provides the foundation for banks and fintech firms to fulfil these expectations. Yapily infrastructure is scalable, allowing French companies to embed open banking within their products and create hyper-personalised services. With our international reach, we’re excited to help French businesses continue to innovate and expand into other European countries beyond the home market.”
The launch of French operations closely follows Yapily’s recent completion of its Series-B fundraising round, which saw it secure $51m to extend open banking across Europe and revolutionise financial services through open finance, creating financial inclusion for all. The investment round had a markedly European flavour, led by Sapphire Ventures with existing investors Lakestar, HV Capital and LocalGlobe also taking part.
Julien Lamour continued: “In recent years, the French fintech sector has seen an acceleration in investment and a surge in innovation. In moving data and payments between organisations, open banking initiatives will be crucial to traditional and new financial service providers realising their ambitions. Yapily’s focus on scalable and reliable open banking infrastructure will provide the foundation for French companies to create better and fairer financial products and services.”
Working alongside Julien Lamour to drive Yapily’s business in France will be Mohsen Dajani, Head of Sales, who brings valuable experience and expertise in the French fintech sector as the former country manager of Pagantis.