Turkish-based fintech company Fimple  specialized in flexible, cloud-native core banking software announced successful closure of $12 million Series A funding round. Led by DN Capital and Smartfin, the funding round also includes continuing support from existing investors APY Ventures and Tera Portfolio.

The $12 million investment will be used to speed up product development for Fimple and fuel expansion globally, especially within the MENA and CIS regions. This strategic play will see Fimple replicate its success within Turkey into fresh territories while there utilizing innovative technology for an even wider client reach.

Founded in January 2022 by CEO Mücahit Gündebahar and CTO Abdurrahman Çınar, Fimple made its rapid rise in fintech with a fully flexible, composable, and integrated core banking platform. A cloud-native system, Fimple’s main principle works based on the “Financial Function as a Service” concept of the institution, offering financial firms the prowess to quickly respond to rapidly changing market needs.

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Innovative Core Banking Platform

It allows flexibility at the core of Fimple’s system with both on-premise and cloud-based deployments. It consists of a well-rounded suite of banking and lending modules, all of which contain pre-configured solutions for Sharia-compliant finance, thereby enabling the extension into the Islamic banking sectors. 

That flexibility ensures the ability of its clients to speedily configure and deploy new products and services for remaining competitive within this dynamic financial landscape.

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Client Portfolio and Market Presence

Fimple won the trust of some of the major financial institutions of Turkey, such as Aytemiz Investment Bank, Misyon Bank, Hedef Investment Bank, and Q Investment Bank. Across five other countries, Fimple provides financial solutions that support institutions in their journey across the changing face of banking. In addition to its stronghold in Egypt and the GCC countries, Fimple is now targeting a deeper penetration into the MENA and CIS regions. 

At the helm of Fimple is CEO Mücahit Gündebahar, who has a rich experience in the financial technology sector. His strategic vision has been instrumental in steering the company towards innovation and growth. CTO Abdurrahman Çınar complements this leadership with his technical expertise in overseeing the development of Fimple’s cutting-edge core banking platform. Together, they have built a team committed to transforming the future of banking through technology.
Investor Insights

The successful funding round is a testament to the confidence that prominent investors have in Fimple’s vision and technological capabilities.

Guy Ward Thomas, Partner at DN Capital, remarked, “Banks globally are striving to replace outdated legacy systems while competing with agile FinTechs. Fimple provides the ideal solution, enabling banks to launch new products and services quickly and efficiently.” Jürgen Ingels, Partner at Smartfin, added, “Modernizing core banking systems is a top priority for financial institutions adapting to dynamic market demands. Fimple’s scalable and adaptable platform is well-positioned to lead this transformation.” 

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Strategic Vision and Future Plans

This new capital should place Fimple in the best position to meet the increasing demands of financial institutions that aim to evolve to more modern core banking systems. The company will use this investment to enhance its product offerings and increase market presence in the MENA and CIS regions. 

With the help of high-performance, scalable, and adaptable core banking solutions, Fimple hopes to arm such financial institutions with the tools needed to remain successful in today’s uncertain financial world.