Toqio, a London, England-based fast-growing fintech SaaS provider, announced that it closed €20 million in funding to become the platform of choice for creating new fintech solutions.
The round was led by AlbionVC, with participation from Aldea Ventures, as well as previous investors Seaya, Speedinvest, SIX FinTech Ventures, and angel investors, including Leandro Sigman, Board Member at Endeavor Spain.
The financing includes €18.7 million in Series A funding and a €1.3 million grant from the Centre for the Growth of Industrial Technology (CDTI), a state organization in Spain that promotes technological development.
With this funding, Toqio will expand throughout Europe, and it recently announced senior appointments in London and Madrid, increasing to over 100 in the past year.
Eduardo Martinez Garcia, CEO & Co-Founder of Toqio, said: “After rapidly growing our team and entering the Spanish market, we’ll now be broadening our focus within Europe, including expansion into France and Germany. This new funding round will enable us to keep evolving and delivering on our vision: we aim to become the world’s premier fintech SaaS platform, giving our clients the ability to create, customize, and launch bank-grade digital finance solutions, enriched by our marketplace of reputable and trusted partners.”
Following the investment, Jay Wilson of AlbionVC joined the Toqio Board of Directors.
Company: TOQIO FINTECH LIMITED
Round: Series A
Funding Month: September 2022
Lead Investors: AlbionVC
Additional Investors: Seaya, Speedinvest, SIX FinTech Ventures, and Leandro Sigman
Company Website: https://toqio.co/
Software Category: Fintech Solutions
About the Company: Founded in 2019 by Eduardo Martinez and Michael Galvin, Toqio is a fintech platform that allows companies to create and launch fully branded banking or finance solutions as apps or on the web in a week. The platform can be extended with its customers’ fintech products and connect to its rich marketplace of global partners. Toqio’s marketplace provides a place to incorporate curated fintech modules into a solution offered by leading financial service providers. Partners that have become part of the Toqio Marketplace include Clear. Bank, Currencycloud, Modulr, and Railsr. Toqio has offices in London, Madrid, and Nairobi. Toqio allows businesses, not just banks, to launch embedded finance solutions for their business or consumer customers in a matter of days. It removes the need to build and manage complex software through its SaaS platform and marketplace. Customers include Crealsa, Paysme, Blackstar Capital, and MovePay.