FintechOS becomes first Catalyst investee in Romania

Endeavor Romania’s first selected company, FintechOS, closed a 10 million USD investment with participation from Endeavor Catalyst as part of a previously announced 60 million USD Series B funding round led in April 2021. Endeavor Romania launched in February 2021 as the sixth Endeavor office in Europe. Teodor Blidarus and Sergiu Negut were the first selected Endeavor Entrepreneurs from Romania in June 2021 and, FintechOS is the first Endeavor Catalyst Investee in Romania.

IFC — a member of the World Bank Group — led the 10 million USD investment, backing the European startup’s low-code approach to boost financial inclusion around the world. According to the World Bank, 1.7 billion people are unbanked. To reach these people, banks are investing in technology that helps them digitize services.

Co-founder and CEO of FintechOS, Teodor Blidarus said,“The investment of Endeavor Catalyst, along with the one from the IFC, show that new types of investors start looking at innovative B2B businesses with global outlook. Endeavor’s focus, in particular, is opening up several avenues for FintechOS’ future development in the US, Latam and APAC where we expect the network to support us with market entries and advice through their local mentors and entrepreneurs, for the benefit of a much broader range of financial institutions in more markets.”

Sergiu Negut, Co-founder, CFO & COO of FintechOS said, “Endeavor Catalyst and IFC’s investments validate FitenchOS’s business model and strategic worldwide expansion plans. They also put a spotlight on CEE and Romania as an emerging epicenter of global innovation. This will certainly lead the way for other types of investors, leading to more chances for the local companies to get access to finance and growth opportunities. We are happy to be part of Endeavor’s network and showcase our story to other founders from developing markets but with global ambitions.

The funds are being used to secure the company’s position in Europe and the UK and fuel international expansion to target financial institutions in Asia-Pacific, Middle East and Africa, and North America. Endeavor Catalyst chose to invest in FintechOS because of its potential to expedite the change in the financial services industry globally.

“Sergiu Negut and Teodor Blidarus are accelerating digitalization, transforming how financial institutions can serve unbanked communities globally,” Allen Taylor, Managing Director of Endeavor Catalyst, said. “At Endeavor, we believe in the transformational power of entrepreneurship, and FintechOS is solving the challenge of barriers institutions face in serving those financially excluded.”