Fintech startup Yapily is announcing that it plans to acquire finAPI — the transaction is subject to regulatory approvals before it closes. Both companies offer open banking solutions in Europe.
With this move, Yapily is consolidating its position in Europe and growing its business in Germany, more specifically. The terms of the deal are undisclosed, but the company says it is a “multi-million” transaction.
Based in the U.K., Yapily offers a single, unified open banking API to interact with bank accounts. Unlike Tink or TrueLayer, Yapily offers a low-level solution without any front-end interface. Developers have to code their own bank connection flow. The result is more control and no Yapily logo.
Due to European PSD2 regulation, banks have to offer programming interfaces (APIs) so that they can work better with third-party services. Yapily has focused specifically on official API integrations and covers thousands …
