Natech secures $33 million for Greek digital bank launch

Natech Banking Solutions, a leading banking technology company headquartered in Ioannina, Greece, has completed a Series B capital increase, securing over $33 million in growth funding. The round comprises $26 million in equity and $7 million in long-term, low-interest debt, reinforcing Natech's position as a key enabler of modern banking across Europe. This funding is part of a structured growth plan and precedes the public launch of Snappi, an EU fully licensed digital bank and a joint venture between Natech and Piraeus Financial Holdings. Snappi, which is anticipated to launch in mid-2025, aims to offer a comprehensive financial solution tailored for the Greek market, combining features from international neobanks. The funds will enable Natech to expand and scale its go-to-market and delivery capabilities to meet surging demand. It will also accelerate research and development focused on artificial intelligence (AI), Banking-as-a-Service (BaaS), and composable banking solutions. The investment is also set to accelerate the development of AI-powered banking technology aimed at revolutionizing the financial landscape. Headquartered in Ioannina, an emerging innovation hub referred to as the “Silicon Valley” of Greece, Natech has a 20-year history of developing advanced banking systems. The company serves a diverse clientele across 40 countries, including banks, credit unions, and payment institutions. The partnership with Piraeus Bank to create Snappi is a significant milestone. The joint venture was initially announced in April 2022, with the goal of providing Banking-as-a-Service, Buy-Now-Pay-Later, and other consumer financial products. In June 2024, the neobank obtained a banking license from the European Central Bank (ECB). Natech is already planning for a subsequent Series C funding round to further fuel its BaaS initiatives and support its vision of powering the next generation of financial services.