Fimple Raises $12M to Expand Cloud-Native Banking Solutions Globally
Istanbul-based Fimple, a provider of flexible and cloud-native core banking software, has raised $12 million in Series A funding. The round was led by DN Capital and Smartfin, with participation from existing investors Albaraka Portfolio and Tera Portfolio, increasing the company’s total funding to $17.5 million. The new investment aims to support Fimple’s market expansion, particularly across MENA and CIS regions. Mücahit Gundebahar, CEO of Fimple, highlighted the importance of the funding in replicating their Turkish success in new markets and enhancing their product offerings.
Founded in January 2022 by Mucahit Gundebahar and Abdurrahman Cinar, Fimple addresses the evolving challenges of the financial sector through its cloud-based solutions. The company’s core product is built around the concept of “Financial Function as a Service,” offering a modular and composable core banking platform. The system enables financial institutions to modernize operations, develop new products efficiently, and ensure smooth integration through its API-first architecture.
Fimple’s solution focuses on three key areas to help banks keep pace with changing demands. First, it modernizes core banking operations, enabling institutions to quickly adjust to market trends. Second, it accelerates product development and customization, thereby improving customer service. Lastly, it facilitates seamless system integration to support efficient and reliable banking processes. With these capabilities, Fimple seeks to be a preferred partner for banks seeking to move beyond outdated legacy systems.
Currently, Fimple operates in five countries: Turkey, Azerbaijan, Kosovo, Bahrain, and Singapore, and it has established a presence in Egypt and GCC markets. The company’s future expansion plans focus on reaching European, Balkan, Gulf, and African markets, leveraging its adaptable platform to address the needs of diverse financial ecosystems.
One of Fimple’s standout features is its Magic Process Designer, which offers a low-code environment for designing workflows and automating key processes. This tool helps banks and fintech firms bring products to market faster while optimizing internal operations. Additionally, Fimple’s Composable Banking Framework allows institutions to build custom banking environments that can evolve as business requirements change. This approach provides flexibility and scalability, making it possible for financial institutions to innovate without being tied down by rigid systems.
As cloud adoption continues to grow in the financial sector, Fimple positions itself to play a critical role in this transition. By 2025, approximately 79% of banks are expected to deploy multi-cloud strategies, replacing outdated legacy infrastructures with flexible and scalable solutions. Guy Ward Thomas, partner at DN Capital, emphasized that banks need solutions like Fimple’s to overcome legacy system limitations while remaining competitive in a fast-changing environment. Similarly, Jürgen Ingels, partner at Smartfin, described Fimple’s platform as crucial for financial institutions navigating the complexity of modernization and market shifts.
With this latest investment, Fimple aims to strengthen its global presence and continue developing innovative solutions to meet the needs of modern banks and fintech players.
