London-based Toqio has successfully raised €20 million to advance its software-as-a-service solution for embedded banking services.
The Series A funding round was led by AlbionVC, with participation from Aldea Ventures, as well as previous investors Seaya, Speedinvest, and SIX FinTech Ventures.
Toqio’s platform simplifies the process of building and managing sophisticated software through its SaaS model and marketplace. The company currently serves 50 clients, including Crealsa, Paysme, and MovePay.
Toqio’s Marketplace offers curated fintech modules from notable providers such as Clear.Bank, Currencycloud, Modulr, and Railsr. The fintech SaaS provider recently expanded its team to over 100 employees, with significant new hires in London and Madrid, and has launched its services in Spain following a €1.3 million grant from the Spanish Centre for the Development of Industrial Technology.
Eduardo Martinez Garcia, CEO and co-founder of Toqio, stated: “After rapidly growing our team and entering the Spanish market, we will now be broadening our focus within Europe, including expansion into France and Germany. Our goal is to become the world’s premier fintech SaaS platform, enabling our clients to create, customize, and launch bank-grade digital finance solutions, supported by our Marketplace of reputable and trusted partners.”