International Finance

ONPEX secures seven-digit investment for Banking-as-a-Service platform

ONPEX is an award-winning, global cloud-based account and payment solution that combines SEPA and cross-border SWIFT transactions via a white label Banking-as-a-Service (BaaS) platform

As part of a series A financing round, ONPEX Holding GmbH has closed a high seven-digit investment with FinLab AG and several notable business angels. ONPEX will use the growth capital to expand its team and broaden as well as market its existing product offering.

Companies can develop and flexibly manage their own banking and payment solutions by simple Application-Programming-Interface (API) integration of the ONPEX solution.

ONPEX’ BaaS platform enables banks, PSPs and ISOs to accelerate international expansion and optimise services thanks to the platform’s greater flexibility, far-reaching scalability, and innovative banking and payment capabilities. The total value of global cross-border B2B transactions is expected to reach approximately $218 trillion by 2022. Focusing on this international and growing market, ONPEX has created a BaaS platform to help companies of all sizes and industries reach their full potential and meet ever-increasing demands by sorting and automating their cash flows.

“With FinLab AG, we are pleased to have gained yet another strong investor who will support us with its network and know-how in the upcoming scaling phase,” says Christoph Tutsch, founder and CEO of ONPEX.

As a professional investment firm, FinLab focuses on new, disruptive business models in the fintech sector. To do so, the firm relies on an experienced team of investors alongside its shareholders, who bring a wealth of knowledge to the table, both in the financial services and technology sectors.

Stefan Schütze, Board Member at FinLab, explained the recent investment: “There is a clear gap in the product offering of traditional banks and other payment service providers. These providers often do not have API-based IBAN accounts and no capabilities to automate payments which are critical to the scalability and growth of companies with digital business models. ONPEX has recognised this gap. The business supports companies with its BaaS solution, providing multi-currency IBAN accounts and a flexible account structure. The BaaS platform’s integrated micro-service architecture and cloud-based infrastructure, with its integrated APIs, also enables automation of payment with remarkable benefits that help companies improve their scalability.”

“Besides supporting financial institutions such as e-money and payment institutions, ONPEX also helps non-regulated companies, such as marketplaces and corporates, simplify the management of their funds and payments in environments where compliance requirements are increasing. In addition, ONPEX’ ability to manage multiple currencies within an account is particularly interesting for multinationals. With ONPEX, we are investing in a team that shares this vision and meanwhile has the know-how to realise such a platform technically, legally and to the highest quality standards. We invest in intelligent platform-technologies; in this way, ONPEX is ideally suited for our investment.”

ONPEX is licensed and supervised as a payment institution by the Luxembourg CSSF and operates in accordance with its regulatory, technical, and reporting requirements.

The founder and managing director, Christoph Tutsch, is supported by CFO, Jürgen Schneider, CTO, Germàn Fuentes Capella and the rest of the 39-strong team of experts. With locations in Luxembourg and Munich, ONPEX has also already received numerous awards, including the Fintech Excellence Award.

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