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London, UK, 23 January 2024 – Ozone API, the open banking API platform founded by the team that designed open banking in the UK, today announced that it has raised a £8.5mn Series A round to fund its continued global expansion.
The Series A round was led by Gresham House Ventures, a growth equity investor specialising in scaling high-growth software and technology-enabled businesses.
Open Banking is now a global phenomenon, with initiatives underway in over 60 markets worldwide. This transformational shift is helping to drive economic growth, increase innovation and tackle challenges such as financial inclusion.
Ozone API has developed the leading standards-based open API platform, enabling banks around the world to deliver open APIs that both comply with regulation and drive new revenue streams.
The Ozone API platform supports all global standards and is trusted by both banks and regulators around the world to deliver high-performing, standards-compliant, and secure API technology to allow them to thrive in the new world of open finance.
Founded in 2017, Ozone API has built significant global momentum, but with an ever-increasing number of markets moving towards open banking implementation, including the US, now is the moment to accelerate international expansion.
The company plans to use the investment to build the team and continue to stay ahead of the market, supporting all emerging standards and providing the tools for banks to monetise open APIs. Ozone API is also providing support and infrastructure to power entire markets.
FinTech M&A adviser NovitasFTCL, led by Managing Partner Bruce McIntyre, acted as exclusive financial adviser to Ozone API.
Huw Davies, Co-Founder & CEO at Ozone API, commented, “Open finance is now an unstoppable transformational force, and we’ve been at the forefront of driving this change. We’re thrilled that Gresham House Ventures is partnering with us to accelerate our global expansion.”
James Hendry, Associate Director at Gresham House Ventures, commented, “We’re delighted to announce our investment into Ozone API at a time when the business is capitalising on the rapid development of open banking globally. Ozone API is exactly the sort of business we look to partner with: an industry recognised world-class product, led by a founding team who deeply understand their market and who have built their business in a capital-efficient manner. We look forward to supporting management as they focus on growing significantly over the coming years.”
About Ozone API
Ozone API empowers banks and financial institutions to adapt and thrive in the new world of open data by providing the technology to unlock the power of open finance and change the world.
The UK-based fintech provides the leading standards-based open API platform, supporting all global standards and providing the tools and expertise to help banks and financial institutions create real commercial value.
With a founding team that led the development of the UK open banking standards, Ozone API continues to shape global open finance helping regulators, banks and technology platforms to accelerate open finance.
Learn more: https://ozoneapi.com/
About Gresham House Ventures
Gresham House Ventures is an experienced investor, providing flexible growth and secondary capital. Gresham House Ventures partners with exceptional management teams in fast growing, innovative business across a diversified range of sectors, including healthcare & education, consumer markets and enterprise solutions. The team has been working together for over 10 years and has made over 100 investments into growth businesses.
Learn more: https://greshamhouseventures.com/