Natech: Raised 10 million euros
This funding will support - among other things - the expansion into international markets as well as the strategic joint venture with Piraeus Bank for the creation of the number one Greek digital bank
Piraeus Bank had already announced in April 2022 the launch of a new autonomous and exclusively digital bank for customers in Greece and Europe. This venture will enable Natech to offer additional BaaS products to financial institutions internationally.
Natech, a leading provider of key banking systems to small and medium-sized financial institutions, raised 10 million euros through the issuance of a private convertible bond. This funding will support – among other things – the expansion into international markets as well as the strategic joint venture with Piraeus Bank for the creation of the number one Greek digital bank.
Piraeus Bank had already announced in April 2022 the launch of a new autonomous and exclusively digital bank for customers in Greece and Europe. This venture will enable Natech to offer additional BaaS products to financial institutions across Europe.
“We are excited to announce the successful 10 million fund raising as we work intensively to accelerate our expansion in Europe and to offer broader Banking as a Service solutions, evolving our technology. This investment will allow us, in addition to strengthening the venture with Piraeus Bank, to strengthen our platform and expand the delivery capabilities of our solutions. We also want to thank investors for their support and faith in our vision,” said Natech CEO Thanasis Navrozoglou. “We will continue to lead the way in banking technology and offer high-quality financial solutions to our customers, enhancing the future of the banking industry.”
The fund raising was made through the issuance of a private convertible bond of 10 million euros, which was oversubscribed by the Orasis fund together with George Moundreas’ Family Office, Codrus Capital and existing shareholders. In the context of increasing operational needs, the evolution of its technology and products as well as the penetration into foreign markets, Natech is planning a new round of funding in the near future.
It is noted that BNB Paribas was the sole financial advisor of the proceeding.
