German banking software provider NDGIT raises $4.7m in funding
Open banking and insurance platform NDGIT has raised $4.7 million (€4 million) in new funding, reports David Penn at Finovate.
The investment comes courtesy of a Series A round led by Capnamic Ventures and featured participation from PROfounders and existing investors Dieter von Holtzbrinck Ventures and business angels. The funding takes NDGIT’s total capital to $5.8 million.
The Germany-based fintech says the additional capital will be used to grow its team and further product development.
NDGIT founder and CEO Oliver Dlugosch says: “In light of the common PSD2 Directive and international Open Banking developments, the investment by PROfounders Capital provides further proof of NDGIT’s European market relevance.”
NDGIT, which stands for “Next Digital Banking”, is the developer of the first API platform for both banking and insurance, and its technology helps banks leverage open banking APIs and PSD2-ready solutions to work and integrate with digital partners.
NDGIT includes Swiss bank Hypothekarbank Lenzburg and Germany’s Bank fur Sozialwirtschaft among its bank, fintech, and insurance company clientele.
