Schoenherr has advised Elevator Ventures, the corporate venture capital entity of Raiffeisen Bank International, on leading a seed round investment in Romanian fintech start-up Finqware.
In addition to Elevator Ventures, the investor pool for this round included another unnamed venture capital fund and two unnamed angel investors.
Finqware raised a seed investment of approximately EUR 500,000 which, according to Schoenherr, is to be used for further expansion of the company and the development of its cloud multi-banking data aggregation infrastructure. The Romania-based start-up produces a cloud-based middleware that builds a bridge between businesses and their financial services providers. With the new investment, it intends to speed up its market expansion in CEE, addressing the growing needs of Open Banking data consumption of banks and other financial players.
Schoenherr's team included Partners Matei Florea and Markus Piuk.