Yapily raises $51 million in new Series B Funding round

Karthik Subramanian

Yapily, the UK Open Banking company, has announced that it has raised $51 million in its Series B funding round that was led by Sapphire Ventures and had other investors including Lakestar, HV Capital, and others.

Turkey payments system TROY is live

The company has been working on building a single unified banking API that can be used by businesses to connect to third-party bank accounts across the UK and this would help to provide a single API to communicate with a wide variety of banks and accounts in them.

“The core difference between us and most of the players in the space is our focus on the infrastructure,” said founder and CEO Stefano Vaccino.

The company seems to like to be working in the background as it relies solely on the development and usage of APIs. It doesn’t have any user interface anywhere and has been using the official APIs of various banks across Europe. It is likely that all banks in Europe would eventually have to come up with APIs to access their banking services and this could then be used to build a single unifying API all across Europe to bring them all under a single platform that businesses can use.

The company currently supports 1500 banks across 8 countries and this is expected to increase as the company is expected to utilise the funds to grow and expand across Europe. Digital payments are expected to rule the payments industry in the coming years and APIs would be a key part of that. With more and more users preferring to check their balances and make transactions online, within banks, and outside, all these need to be handled by the APIs.

So the use of a unified API would make it very convenient for businesses and users as well to build platforms on them. While some countries have managed to bring all their banks under a single umbrella API, the Eurozone as a block needs to achieve the same. This is going to be a herculean task with the number of countries and banks involved and with many banks still without their own APIs.

So, the business case for what Yapily is doing is certainly well valid which is reflected in the trust that the investors have placed in them and their API product. This is likely to be a big disruptor for the online banking space in the years to come as many platforms are likely to be built on top of this.

Read this next

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

<