Modularbank secures €4m in seed funding for core banking push

Just weeks after striking a partnership with payments processing giant NetsModularbank has secured €4m in seed funding to accelerate its growth.

Led by Karma Ventures and BlackFin Capital Partners, the funding round also included cash from Plug and Play Ventures, Siena Capital and angel investor Ott Kaukver.

Chief business officer Rivo Uibo said the funding would be used to establish Modularbank’s commercial operations in the UK, including establishing an office, along with expanding the fintech’s reach in France DACH and Southern Europe based out of Modularbank’s Berlin HQ.

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