PayU Participates in FinTech BKN301’s Series A Funding Round

PayU, the leading online payment service provider operating in 50 emerging markets, announces that it has invested in BKN301's Series A.

BKN301, San Marino-based FinTech company developing payment services and BaaS solutions, has raised EUR 15 million in a Series A funding round.

The new funding came shortly after closing the seed round at the beginning of 2022 and raises the total valuation of the company at EUR 63 million.

The raised capital will be further used to develop the Open Banking's platform technological infrastructure and support its growth among the emerging markets in Africa, the Middle East, and Eastern Europe.

The funding round was led by Swiss fund Abalone Group, with the participation of online payment service provider PayU, Azimut Digitech Fund, and GNB Swiss Investments AG, among others.

BKN301 brings the latest fintech solutions and integrations to emerging countries with high development potential and counts for, among others, digital payments, blockchain services, cryptocurrencies, and digital assets.

Through its BaaS and digital e-money platform model, the company enables third parties to offer financial, payment, and token issuance solutions.