The International Finance Corporation (IFC) announced on Thursday that it is investing $10mln in FintechOS, a global technology provider founded in Romania and will support the company’s global expansion strategy by facilitating partnerships with IFC’s extensive network of bank clients and partners.
The new investment will address the digital transformation needs of banks and insurance companies, according to a press release.
“With IFC’s investment and support, our unique technology can help ensure underserved individuals and businesses to have access to essential financial services,” said Teodor Blidarus, co-Founder and CEO at FintechOS.
IFC’s funding will accelerate the digital transformation of banks and other traditional financial institutions with the goal to improve the quality of services for those currently underserved.
IFC’s investment will support Romania’s effort to leverage its highly educated talent and growing venture ecosystem to become a leading player in the digital economy and innovative software development industry, contributing to increased competitiveness and productivity in the country.