BKN301, a UK fintech with strong Italian roots, has just secured a fresh £18.6 million funding round to accelerate its mission of building a world without financial barriers. This major step forward not only fuels its global expansion but also strengthens its Banking as a Service (BaaS) platform, which is redefining how financial services are delivered across emerging and developed markets alike.
Unlike many traditional banks and fintechs that wrestle with outdated systems and patchy infrastructures, BKN301 offers a smarter approach. Its unified API gateway links core banking systems, payment processors, and third-party services—enabling smooth integration without disrupting existing operations. It’s this kind of technical precision that’s helping financial service providers launch new features faster, more securely, and more efficiently.
This new funding round, led by a mix of new and returning investors, includes CDP Venture Capital SGR, Azimut Libera Impresa SGR, SIMEST, and Alisei Forinvestments, among others. Returning backers like SM Capital, Prosus Group, and CRIF also participated. In total, BKN301 has now raised around $47.3 million.
For Stiven Muccioli, the company’s co-founder and CEO, this funding signals more than just capital—it’s validation. He sees this as a strong endorsement of the company’s scalable BaaS model. As he explains, closing a Series B in today’s economic climate speaks volumes about the company’s resilience and market relevance. Muccioli also revealed that BKN301 expects to hit a 36% compound annual growth rate (CAGR) in EBITDA by 2028 as it doubles down on product development and market expansion.
Founded in 2021 by Muccioli alongside former PayPal executive Federico Zambelli Hosmer and Luca Bertozzi, BKN301 is headquartered in London with satellite offices in Milan, San Marino, Doha, and Tbilisi. The fintech’s early focus has been on high-growth regions such as Africa, the Middle East, and Eastern Europe—areas where access to banking is still far from universal.
What sets BKN301 apart is its clear focus on creating accessible financial tools for the unbanked and underserved. Rather than rebuild the system from scratch, it leverages existing merchant and telecom networks to deliver modern digital finance experiences. This approach makes financial services more accessible, inclusive, and scalable across different infrastructures.
Currently, the company powers daily transactions for over 18 million customers in Egypt alone, thanks to partnerships with major regional operators. As it expands into Europe, its first major move is a collaboration with Italian neobank HYPE, which now runs on BKN301’s BaaS Orchestrator platform.
That platform lies at the heart of BKN301’s offering. It’s not just a tech product—it’s a complete infrastructure solution. Designed with modularity in mind, it allows financial institutions to select specific services—like digital wallets, card issuing, or cross-border transfers—and integrate them through developer-friendly APIs. What makes this even more appealing is the ability to launch new services without heavy upfront investments or massive migration risks.
The technology also supports multi-currency and multi-entity operations while remaining compliant with PSD2 and other regional financial regulations. For clients, that means faster time-to-market, fewer roadblocks, and more freedom to innovate.
Though the BaaS space is crowded with players like Solarisbank, Railsr, and Marqeta, BKN301 is carving out a niche by combining flexibility with a focus on underserved markets. Where others deliver rigid offerings, BKN301 empowers its partners to tailor financial experiences that fit local needs. Its collaborations with firms like Finastra enhance its platform with advanced cloud-based tools for global operations.
The momentum shows no signs of slowing. The company has reached operational break-even and forecasts £15.9 million in gross revenue for 2024—a 51% jump year-over-year. Net revenues are growing even faster at 236% YoY, and since launching in 2021, the fintech has recorded 187% overall growth.
For investors like Enrico Filì from CDP Venture Capital, BKN301 represents the kind of high-impact, high-growth fintech that’s reshaping global finance. As Filì notes, the company is not just building technology—it’s creating value and unlocking innovation across borders.
With its sights set on further international expansion and continuous platform development, BKN301 is well-positioned to lead the next chapter in Banking as a Service. Its bold vision of financial inclusion and cross-border accessibility isn’t just idealistic—it’s now well-funded and moving fast.
