#BankTech / Netherlands based Core Banking Platform Five Degrees Secures €22 Million in Capital

This latest investment represents the largest funding to date for the Dutch core banking solution provider… 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.

Five Degrees’ specialist core banking technology aims to provide an alternative to the outdated product systems that are preventing banking institutions from being more “data-oriented” and “future-proof.”

[Founder and General Partner of Velocity Capital FinTech Ventures:] “We see that many banks face stiff competition from digital challenger banks and other emerging Fintechs. Five Degrees is the perfect partner to help established banks offer a truly digital experience. In the past ten years, Five Degrees has successfully partnered with several full-scale banks, providing their core banking systems. We believe the vast majority of banks must upgrade their legacy systems over the coming years…”

https://www.crowdfundinsider.com/2020/12/170411-netherlands-based-core-banking-platform-five-degrees-secures-e22-million-in-capital/