- €10m fundraise via the issuance of a private convertible bond
- This transactionis the first milestone towards the completion of Natech’s Series B fundraise and will support its European expansion planand the launch of its Joint Venture with Piraeus Bank tostart offering Banking-as-a-Service (BaaS) products in Europe
- This round was supported by international and private institutional investors alongside existing shareholders
Natech is a leading Core Banking System provider to small &midsizefinancial institutions, providing an end-to-end, real-time, and competitiveoffering specially structured and designed to target underserved financial institutions and benefit from the gradual shift to BaaS.
Natech’s solutions benefit from a simplified system integration (up to 10x more effective on delivery times), compelling and proven product offering covering retail and SMEs banking requirements (including AML/KYC, risk and regulatory reporting tools), real time 24/7 core banking system with a clear cost advantage and simplification of operations with omni-channel experience.
Accordingly, Natech has built a demonstrable track record of delivering sustainable and profitable growth, underpinned by sticky customer base and long-term contractual relationships.
This new funding will finance the strategic Joint Venture with Piraeus Bank in order to build the #1 Greek digital bank. It will allow Natech to start offering BaaS products for financial related entities across Europe. Piraeus Bank had announced in April 2022 the launch of a new online-only independent bank for customers in Greece and Europe, which will enable the company to address the booming BaaS market in EU regions.
This private convertible bond was oversubscribed and was led by Orasis Fund alongside George Moundreas Family Office, with Codrus Capital and existing shareholdersalso participating.
In addition, Natech is also planning to raise new equity to secure its path towards scaling operations, technology and product offering as well as accelerating its growth in Europe and abroad.
Thanasis Navrozoglou, Natech’s CEO:“We are thrilled to announce the successful closing of a €10m funding round for Natech, working diligently towards accelerating our expansion in Europe and the development of our BaaSoffering. This investment will enable us to finance the launch of our Digital Bank in partnership with Piraeus Bank and enhance our platform and delivery capabilities. We would like to extend our heartfelt thanks to our investors for their support and belief in our vision. With this funding, we are excited to continue leading the way in Bankingtechnology and delivering world-class financial solutions to our customers empowering the future of Banking.”
BNP Paribas is acting as sole financial advisor to Natech in this fundraising process.
Natech is a Greek Fintech that provides banking technology services and SaaS products to small & midsize financial institutionsbenefiting from its highly streamlined end-to-end offering and lean implementation processes. Leveraging its historical activities in financial software, the Company has developed a full core banking system technology in the last 20 years. Natech is launching a Joint Venture with Piraeus Bank to create the #1 Greek digital bank allowing the company to start offering BaaS products for non-financial lenders across Europe. Visit our website www.natechsa.com
For further information please contact
Thanasis Navrozoglou – President & CEO