Open banking start-up AAZZUR is one of the first start-ups to benefit from the launch of F10’s Investment fund, after graduating from its accelerator programme.
Top Swiss fintech incubator and accelerator F10 recently launched the investment fund with its corporate partners SIX Group. as well as the innovation arm of major insurance provider Generali Switzerland – the House of Insurtech Switzerland (HITS).
AAZZUR graduated from the F10 Prototype to Product scheme in 2020, after been one of just 16 start-ups from about 300 applicants to join Batch V.
Of the 16, nine graduated and four will now see a strategic stake acquired by F10 Investment, which aims to strengthen the innovative capacity of the Swiss financial and insurance sector.
UK and Germany-based AAZZUR drives the open banking revolution by both reducing the time for neobanks to get to market and helping incumbents monitize customer data by cross-selling financial services.
Its platform offers banks a Behavioural Trigger Engine helps banks identify customers’ needs and offer them tailored services, while its Financial Services Connector enables banks, insurers and other financial services providers to connect to offer third-party services on a white-label basis.
Meanwhile its targeted mobile banking offering means banks and fintech providers can test and penetrate new segments with specific targeted product strategics on iOS, Android and web.
“AAZZUR is honoured to be one of the first four F10 accelerator graduates to have financial backing from the F10 investment fund,” says AAZZUR CEO Philipp Buschmann. “Our innovative platform can drive the open banking revolution and the F10 Investment funding is validation of that.”
“We at F10 Investment were extremely impressed with the experience and commitment of the AAZZUR team and their scalable business model,” says James Sanders, F10 start-up coach and F10 Investment general manager.
Speaking at the time of F10 Investment’s launch in December, Sanders said: “Time is a decisive factor for start-ups. Funding at the right time helps the teams grow faster and take the first steps to scale their businesses.
“From the Incubation Programme that’s been running in Zurich since 2016, we have seen that early strategic investments contribute significantly to the success of our start-ups.”
To learn more about how F10 supports innovation through collaboration and how its investment arm gives qualified investors the chance to invest in a portfolio of game-changers before anyone else, visit the F10.Global website.
Information on how AAZZUR is revolutionizing financial services through its open banking platform, can be found at the AAZZUR website.