Weavr Secures EMI License in Malta for Enhanced IBAN Offering

Weavr, a UK-based Banking-as-a-Service (BaaS) provider, has obtained an Electronic Money Institution (EMI) license from the Maltese Financial Services Authority (MFSA). This license allows this fintech to expand its offering across Europe with a comprehensive IBAN solution, positioning itself as a key player in the B2B Software-as-a-Service (SaaS) sector. The IBAN offering aims to support businesses with a range of financial products, including cards, account management, and global fund transfers.

Weavr's strategic partnership with Visa, initiated in June last year, strengthens its capability to deliver innovative financial solutions tailored for B2B SaaS businesses. CEO Alex Mifsud highlighted that the license enables easier adoption of embedded finance, facilitating transformative software experiences across critical business functions such as accounting, billing, project management, and HR management.

"In this new era when regulators across Europe are increasingly addressing the risks associated with BaaS, we are honored to be among the first organizations awarded a financial licence specifically to operate a safer model for embedded finance," he continues.