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Swishfund to be first customer for new Five Degrees cloud-native core banking platform 11 May 2021
Source: Five Degrees Five Degrees is delighted to announce Swishfund as its first customer on °neo, its new cloud native core banking platform. Fintech Swishfund was founded in 2016 and provides direct lending products to SME businesses in the Netherlands and the United Kingdom. Swishfund will migrate its existing customer base onto °neo, as it focusses on further expanding its business.
Netherlands based Core Banking Platform Five Degrees Secures €22 Million in Capital
Netherlands-based core banking platform
Five Degrees has acquired €22 million in capital through an investment round that was led by Velocity Capital Fintech Ventures. Reggeborgh and Atlas Invest also took part in the round. Karmijn Kapitaal, 5Square and several other existing investors made contributions to Five Degrees’ round as well.
This latest investment represents the largest funding to date for the Dutch core banking solution provider.
According to a release, the investment will be supporting Five Degrees in introducing their Cloud-native core banking platform. The funds raised will also be used to boost the company’s sales and marketing efforts next year.