Finqware, a Romanian fintech innovator specializing in treasury management through open banking technology, announced a significant milestone in its growth journey. The company reported a remarkable fourfold increase in revenue compared to the previous year and celebrated its first year of profitability, achieving an EBITDA margin of 29%.
What’s Driving the Growth?
This growth can be attributed to the expansion of Finqware’s portfolio, welcoming both medium and large-sized companies. Firms such as Fan Courier and One Property have adopted Finqware’s FinqTreasury platform to streamline their financial operations.
The company also forged productive open banking projects with partner banks like Banca Transilvania and CEC Bank. A notable achievement for Finqware is maintaining a 100% customer loyalty rate, with no clients discontinuing the use of its solutions, FinqTreasury and FinqOneAPI.
Leadership Insights
Cosmin Cosma, CEO of Finqware, expressed enthusiasm about the past year’s results, attributing the success to the combined efforts of the founders, investors, and the Finqware team. He believes this success story isn’t just about smart investing. It’s proof that their products genuinely deliver value, especially for the big players in the market. Their FinqTreasury platform is becoming a go-to for enterprise-level treasury management automation, thanks to its unique approach leveraging open banking.
Looking forward, Cosmin thinks the results underscore the disruptive potential of open banking technology, especially in automating financial operations for medium to large-sized companies. For him, it’s just the beginning for Finqware, aiming to position the company as a significant player in the European paytech industry.
