Backbase Hits €2.5B Valuation with €120M Investment

Backbase, a Netherlands-based Engagement Banking Platform, has raised EUR 120 million in growth equity funding from Motive Partners.

Having grown to over EUR 200 million in revenue, Backbase is now partnering with a fintech specialist private equity firm, to further strengthen its claim on the Engagement Banking category.

This growth investment values Backbase at EUR 2.5 billion. Motive Partners is a founder-friendly partner, fully supporting Backbase in remaining an independent force and driving the Engagement Banking strategy, by continuing to focus on customer-centric innovation that transforms the financial services industry's siloed channels and legacy applications.

This investment will allow Backbase to double down on its vision for Engagement Banking and accelerate its mission of re-architecting banking around the customer. 

(Source: The Paypers)