Fintech innovator fonYou has secured €7 Million in growth funding from Banco Santander’s Smart Fund, in a financing deal that will support fonYou’s future technology development and market expansion as it rolls out its innovative fintech solutions across key regions – including Latin America and Europe, the Middle East and Africa.
The new framework finance agreement will fund fonYou’s ambitious product development programme and strategic roadmap, as it expands its sector focus beyond telecoms to integrated digital finance enablement across global fintech and ecommerce markets. fonYou’s innovation roadmap is focused on delivering new technologies to enable the deployment of embedded finance solutions – including instant payment, “Buy Now, Pay Later” and emerging credit modalities – in partnership with connected mobile operators, ecommerce, and the wider global banking ecosystem.
Harnessing its vast experience built delivering AI-driven data analytics and digital transformation solutions to power revenue growth within the telecoms sector, fonYou is ideally positioned to address the needs of multiple vertical markets that are seeking to enable frictionless, digital financial transactions in real-time at mass scale.
Banco Santander’s Smart Fund is an exclusive financing initiative that supports eligible SMEs in the development and execution of strategic growth plans for sustainable, innovative digital initiatives with strong job creation potential. With an allocation of EUR 1.12 million, the Smart Fund is supported by the INNOVFIN SME Guarantee, which is financially supported by the European Union in the context of the Horizon 2020 Financial Instruments program.
Fernando Núñez-Mendoza, Co-Founder and CEO of fonYou
This milestone financing secured from Banco Santander’s Smart Fund is a clear expression of confidence in our business – recognising the very significant market opportunities presented by the high-growth digital finance sector, which our innovative, AI and ML-driven fintech solutions are uniquely placed to serve.
