BKN301 raises $23.8M to target UAE & Saudi expansion as MENA BaaS race intensifies

🏦 BKN301 Group, a London-headquartered Banking-as-a-Service provider, has raised $23.8 million from investors including CDP Venture Capital, Azimut Libera Impresa, SIMEST, and Alisei Forinvestments to fuel its global expansion, with a focus on the UAE and Saudi Arabia.

The company recently established its MENA HQ in Qatar and is pushing to capture market share in a region where competition is heating up – Nymcard closed a $33 million Series B just last month.

Founded by Stiven Muccioli, BKN301’s platform powers core banking, payments, and AI integrations, with €18.4M in revenue in 2024, marking 51% YoY growth.