BKN301, Cdp, Azimut and Fumagalli enter the new round

A EUR 21.5m round for BKN301 Group, a London-based fintech with offices in Milan, San Marino and Doha, specialising in Banking-as-a-Service (BaaS). The round saw the entry of new investors, including Cdp Venture Capital Sgr, Azimut Libera Impresa Sgr, Simest, Aldo Fumagalli's Alisei Forinvestments and other investors. These join investors from previous rounds, including SM Capital, Prosus Group, Crif, Abalone Group, Federico Ghizzoni and Fabio Nalucci. With growth of 187% since entering the market in 2021, the company ended 2024 reaching operational break-even, with gross revenues of 18.4 million. With the new business plan, top management estimates a Cagr of 36% for Ebitda by 2028. The Group recently entered into a partnership with Hype (the neobank in joint venture between Gruppo Sella and Illimity) with the expectation of an integration of the proprietary platform.

"The entry of significant new investors, together with the confirmation of the trust of those who have already believed in our project, is a strong signal of the solidity of our model," comments Stiven Muccioli, co-founder and ceo of BKN301 Group. "Closing a Series B round in this market environment is a significant achievement and marks the beginning of a new phase of growth. Our goal is clear: to bring a truly efficient, scalable and innovative Banking-as-a-Service model to global markets. With the new business plan, we aim to bring innovative, user-friendly payment and financial services to more and more operators and their customers".

BKN301, having validated its model in high-growth markets such as Africa and the Middle East - where it has reached 18 million customers daily in Egypt alone - is now also moving into Europe, where it is embarking on a new phase of growth as a global operator.

"BKN301 represents an excellence recognised by clients and partners globally, a now international operator that is effectively contributing to innovation in fintech," says Enrico Filì, head of the Digital Transition Fund at Cdp Venture Capital. Cdp Venture Capital is constantly committed to enhancing the value of companies that promote innovation and create value in their respective fields. We have great confidence in the project and in the work of the BKN301 team, and we are determined to support it in achieving its ambitious goals'.