Yapily takes over FinAPI

Schufa previously owned 75 percent of the company. Now the start-up is going to Yapily.

The British fintech Yapily is buying the German start-up FinAPI. Schufa previously owned 75 percent of the shares in the start-up, but these are now going to the British company. However, Schufa will continue to work with FinAPI, for example on the use of products and services and product development. With the takeover, Yapily aims to become Europe's leading open banking platform. The companies did not disclose how much this cost.

Yapily is currently active in 16 European countries. With the takeover, the company also wants to open up new countries such as the Czech Republic, Slovakia and Hungary. The company's customer base is expected to double as a result of the takeover. "By working with FinAPI, we can achieve greater speed, agility and depth to accelerate innovation and shape the future of open finance in Europe and beyond," says Stefano Vaccino, founder and CEO of Yapily.

Florian Haagen, founder and CEO of FinAPI, is also pleased with the acquisition.

"Yapily's core DNA as a fintech and open banking enabler aligns with our belief in an infrastructure-first approach," says the founder. Haagen founded the start-up together with Martin Lacher in 2008. According to the company, it is a Bafin-licensed payment initiation service and account information service.