This article showcases our top picks for the best Romania based Fintech (Financial Technology) companies. These startups and companies are taking a variety of approaches to innovating the Fintech (Financial Technology) industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Romania Fintech (Financial Technology) Companies
Our product is a API middleware platform with a single point of contact (API/SDK) at output available for different interesting companies (businesses – including enterprises, banks and fintechs) with financial data provided by banks and other financial providers. At input we leverage PSD2 APIs from banks, custom data exposure API and product wrapping APIs.
The input connections are seen as “skills” and the data is enriched in our infrastructure and then exposed at the output end to tenants that can build frontend applications and services in order to create value it. Creating “skills” from digitalising sales origination processes with financial providers, we are also feeding cross-border financial marketplaces (like digital wallets, online e-commerce businesses) with a new revenue stream from commissions on financial products sales, increasing the distribution coverage of banks and financial providers, through a new channel for acquiring customers..
Beez is a mobile APP that targets people who shop online and finances online shopping with credit cards. We give them an alternative for the buy now, pay later model with, NO interest, NO late fees, No commissions.
Our approach is to eliminate the bank from the equation(user-bank-retailer) and support the financing costs of these loans directly from the retailer as a wholesale discount to us. The problem as we see it that 70% of credit card owners end up paying interest and 25% interest rate is only the starting point they even go up to 50% Right now people get money from the bank with interest and pay for products, our approach is to pay the merchant, an get a wholesale discount, our user get the products and pay us back in 60 day with no costs Our product gives the same benefits as a credit card : – cash back on every transaction – Automated saving solution – credit at POS with NO interest To retailers we bring : – sales – loyal customers – increase on the recovery on abandoned carts.
Founded in 2007, Smart Bill is a Romanian FinTech startup that offers billing solutions and SaaS-based services. It also provides small- and medium-sized businesses with invoicing and inventory management software.
It offers Smart Bill Cloud, an online billing program which can be accessed from anywhere, from any internet-connected device. The company is headquartered in Sibiu, Romania..
Instant Factoring is a fintech factoring platform providing liquidity to small entrepreneurs in max 24h, powered by robot-underwriting, transactions transparency using the blockchain, and developing machine learning based credit risk algorithms. We enable entrepreneurs to reap the rewards of their hard work immediately, turning their invoices into cash as the easiest step to getting the money they need quickly, without the burden of bureaucracy, extremely long analysis and response time.
Instant Factoring’s mission is to enable the development of small businesses by providing them with flexible and innovative financing solutions. The company estimates that more than 15.000 small businesses will use its services by the end of 2022, with an average value of invoice financed of approximately EUR 2.000.
Distinguishing features of the platform include: the unique and patented internal credit-scoring tool, leveraging artificial intelligence and predictive analytics to provide fast credit decisions; registering the invoice portfolio ledger on the blockchain as an anti-fraud / double sale of an invoice, while in the near future we intend to implement smart contracts and payment ledger on the blockchain. Data and information is gathered from multiple sources and processed efficiently to rate customer invoices, and provide up front transparency on pricing.
The internal algorithm is continuously improving through machine learning, bringing significant competitive advantage to the business.. .
ThinkOut helps managers of small and medium sized companies better understand how money moves their business. Using the information from the bank statement, ThinkOut is building a fundamental financial analysis of the past, present and future performance of the company.
Using this output, managers can rely on ThinkOut in order to make informed business decisions, based on real time data.. .
We offer retailers a user-friendly product interface, Increased sales, average ticket size and happier customers through increased approval rates due to multiple lenders and the chance to have the potential to create dedicated campaigns for end customers already For service providers, we give access to financing options so far reserved to a limited number of retail segments, reducing the risk of client loss due to pricing concerns also with potential to create and use specific financing programs with existing lenders. For banks, we provide a platform that allows onboarding for new consumer/instalment credit cards, does not require a lengthy contract with a large number of small retailers and an opportunity to identify the right client for their product, micro-targeting and differentiation, protecting also own clients by identifying them at the purchase moment.
For non-banking financial institutions, we can get access to sizeable dispersed market difficult to target through traditional channels, an opportunity to develop custom products, an independent platform allowing you to maximize own benefits – the speed of reply, branding, etc. .
ExigeApp is a web-based application that educates its users on financial modeling. The application features modules, templates, financial algorithms, and multiple scenarios.
It enables its users to model up their businesses by filling in required information, including number of employees, fixed costs, direct costs, and expected selling prices and volumes. ExigeApp was launched in 2015 by Alexandru Pavel and Alexandra Suciu and is based in Bucharest..
Allevo provides software solutions for financial institutions of all sizes for processing financial transactions. We promote BOOST (Banking On Open Source Technologies) in order to reduce the total cost of ownership and achieve end-to-end interoperability across the financial supply chain, offer operational risk containment, whilst addressing legal and regulatory constraints in processing financial transactions.
We strongly believe the answer is in developing an open infrastructure for customers to stay abreast and address swiftly and collaboratively industry moves such as real-time payments and better intraday management of liquidity and assets. With the BOOST project, Allevo supports business growth by joint developments.
It thus distributes its products with zero cost licenses and focuses on selling services, while aiming to create a self-sustaining open source community. Allevo’s flagship product, FinTP, and all ancillary documentation is distributed freely and openly through the FINkers United community and it provides collaboration ground for rapid development and integration of new technologies, such as crypto currencies, biometric security, data analysis algorithms.
This creates an open infrastructure for achieving real-time payments and a better management of liquidity and assets.. .
Finance41 is a personal finance tracking system. It focuses on the users with a need to get a clear insight of their money flow.
It enables users to add transactions, categorize with tags, analyze spending, check balance and maintain control of their finances. Availability of Finance41is achieved with the Finance41 Android app, the Google Chrome extension and the mobile optimized web app..
webamboos is a solution driven Company, specialized in the development of corporate web software. Our mission is to gain market trust by generating/designing/building professional software, using the latest technologies adapted to each business.
We use web strategies, technologies and design to grant clients smooth, but substantial improvement of their digital profile as an organization. Beyond technical expertise, we understand the importance of your business and adapt our solutions to deliver measurable results.
We have expertise in several technologies (NodeJs, VueJS, ReactJs, Redux, Vuex, ElasticSearch, MongoDB, Docker, AWS, Kenkins, PostgreSQL) that we have used for developing softwares that have different areas of application: – IoT (Internet of Things) – Fintech – Automotive – Retail – and others. .
Crestem Idei is an online crowdfunding platform that enables individuals to fund and profit from projects in diverse arenas. These include community, graphics and design, education, film and documentary, photography, sport, theatre, technology, and writing and publishing.
Crestem Idei requires the participating projects to present a budget and video each, as minimum criteria in order to gain its approval in the selection process. Crestem Idei is based in Cluj-Napoca, Romania..
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