Welcoming Neonomics to FinTech Connect!
The advent of PSD2 and other open banking initiatives is creating a vast number of APIs spread around the globe, creating a fragmented landscape. Interconnectivity Solution by Neonomics solves this issue by helping you reach thousands of banks via one unified API - affordably and efficiently.
Year Founded: 2016
How did the idea for the business originate?
Back in 2016, Neonomics CEO Christoffer co-founded a company called Fintech Innovation with the aim to build a mobile-first bank that provides fair and accessible banking to everyone.
The beginning of PSD2 and other open banking initiatives acted as a catalyst to help us tailor a product with massive end-user benefits by consolidating multiple bank accounts into one interface. There we saw the need for a solution that could help us interconnect with a large number of APIs, and that’s when we got the idea to develop a product like that ourselves.
Do you have customers yet? If not, how far into your business lifecycle are you?
Our current KPIs are a number of connected banks and sales pipeline. We’ve so far aggregated around 350 banks through pure API integration technology (vs. screen scraping, reverse engineering) and this number will likely scale up fast as we’re approaching the final PSD2 implementation deadline next year.
In addition to our partnership with Link Mobility, we’re in final talks with both small-to-medium and large banks to become their official open banking solution provider.
How have you funded your growth to date?
We’ve raised 2.7 million USD of seed capital and now we are entering a series A round.
What would a successful year look like for you?
We’ve already had a successful year both in terms of commercial and technical milestones, and we’re celebrating it together with the whole team in early December through a party called Julebord. Literally translated as a “christmas table” in English, it’s one of the highly-anticipated work social events in Norway.
To see who else is exhibiting at Fintech Connect, click here.