FlowX Secures $8.5 Million in Seed Funding

FlowX, one of the emerging financial technology startups in Europe, announced today that it has raised $8.5 million in a seed Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term. The company supports financial platforms in the development of efficient IT infrastructures.

PortfoLion led the latest $8.5 million investment round of FlowX. In addition, Day One Capital joined the seed funding. FlowX facilitates financial institutions in the creation of unified, omnichannel customer and employee experiences without changing their existing systems and infrastructure.

The financial technology firm allows companies to build innovative and modern digital experiences. According to the company, the latest funds will support its expansion plans in Europe and the US. FlowX aims to grow its team by the end of Q1 of 2022.

“This seed funding, less than a year after starting FLOWX.AI, proves that the problem we address is massively painful - legacy infrastructure is holding back enterprises from growing. This financing will support us in extending our offering globally, to giving companies back the freedom to build more - together with our expanding network of global consulting and system integration partners,” Ioan Iacob, the CEO and Co-Founder of FLOWX.AI, commented.

Support from VC Firms

With the participation of leading European venture capital firms like PortfoLion, FlowX is planning to enhance its operations. Additionally, the fintech platform highlighted that the seed funding will assist the company in the expansion of its data science team.

“FLOWX.AI has a huge market potential with a plausible promise of fast becoming a global player in digital transformation. Their solution stands out as it provides unmatched speed and security for modernizing the legacy systems of large enterprises. In an era of developer shortage, it’s fascinating to see such excitement and inbound interest from the developer community. We are excited to work together with the team in the coming years,” said Gábor Pozsonyi, Partner at PortfoLion Capital Partners.

Earlier this month, the financial technology platform, Mynt raised nearly $300 million and received a valuation of more than $2 billion.