Open finance firm Fabrick has entered the DACH market by acquiring a 75% stake in the German operator finAPI.
This acquisition is part of Fabrick’s ongoing consolidation strategy, which included acquiring a 100% stake in British paytech Judopay last year, as well as securing a stake in the German fintech Banxware. In 2022, Fabrick also completed a capital increase with support from Mastercard and Reale Group, who became minority shareholders.
Founded in Munich in 2008, finAPI serves over 350 clients, including banks, fintech companies, insurance firms, and software providers across Germany, Austria, the Czech Republic, Slovakia, and Hungary. With a combined client base exceeding 800, the volume of Account-to-Account payments managed by Fabrick and finAPI in 2023 amounts to over 65 billion euros, with more than 11 billion API calls made.
Paolo Zaccardi, CEO of Fabrick, remarked, “The acquisition of finAPI, following our recent capital raise with Mastercard and Gruppo Reale Mutua, and the acquisition of JudoPay, marks another significant milestone for Fabrick. It supports our internationalization strategy and allows us to enter the DACH Region, a key area for scaling our operations and capitalizing on the growing opportunities within our sector. This move also expands our offering across the entire value chain of Open Finance services.”
The acquisition, pending approval from German and Italian supervisory authorities, was formalized through an agreement with SCHUFA Holding AG. The remaining 25% of finAPI will stay with its founders, Dr. Florian Haagen and Dr. Martin Lacher, who will continue to play a role in the new entity.