BaaS Startup BKN301 Lands €15 Million in Series A

​BKN301, a digital payments and Banking-as-a-Service startup, has raised EUR15 million in a Series A funding round led by Abalone Group.

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The round, which values BKN301 at EUR63 million, was joined by PayU, Azimut Digitech Fund, CRIF, and GNB Swiss Investments.

Launched last year, BKN301, through its BaaS and digital e-money platform model, enables third parties to offer financial, payment, and token issuance services. The company is focusing on the fast-growing markets of Africa, the Middle East, and Eastern Europe.

Stiven Muccioli, CEO, BKN301, said: "Closing this new round based on the support of highly-experienced investors confirms the validity of our project, which has always focused on fast-growing markets.

"Thanks to this massive recognition, we will continue to provide, through the BKN301 group, excellent fintech solutions and integrations to countries with high development potential.

"Being characterized by a low level of banking services, they can significantly benefit from adopting new banking technologies — such as digital payments, innovative blockchain services, cryptocurrencies, and digital assets."