Konsentus, a UK-based Software-as-a-Service (SaaS) TPP (third-party provider) identity and regulatory checking service provider to financial institutions to enable PSD2 open banking compliance, as per recent reports this week, has just closed a multi-million-pound pre-Series A financing round, led by Mastercard, a Purchase, New York-based leading financial services corporation, with support from other investors.
The financial details of the pre-Series A round were not disclosed.
“The regtech market is growing at 45%+ per annum and with 9,000+ financial institutions in Europe that must deliver PSD2 open banking, the demand for the Konsentus service is significant and this investment will support an accelerated growth plan across Europe,” states Mike Woods, CEO, Konsentus.
Adding further, Woods says, “With plans to launch new related services later in 2019 and international expansion in due course, we will be pursuing a Series A financing round in late 2019.”
According to Jim Wadsworth, SVP – Open Banking, Mastercard, the Purchase, NY-based company sees “significant potential” in the Konsentus service.