Yapily acquires FinAPI

Previously, Schufa 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. Previously, Schufa owned 75 percent of the shares in the start-up, but now they are going to the British company. However, Schufa is to continue to cooperate with FinAPI, for example in the use of products and services and product development. With the acquisition, Yapily aims to become Europe's leading open banking platform. The companies did not disclose how much it cost.

So far, Yapily is active in 16 European countries. With the acquisition, the company also wants to enter new countries such as the Czech Republic, Slovakia and Hungary. The company's customer base is expected to double as a result of the acquisition. "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," said 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," said the founder. Haagen co-founded the startup with Martin Lacher in 2008. The company says it is a Bafin-licensed payment initiation service and account information service.