Yapily

Founded in the UK, Yapily offers white-label financial technology (FinTech) infrastructure for enterprises to embed banking and payments into their FinTechs using a single open API. Through the API, enterprises can aggregate, categorize, and enhance bank account information to initiate payments, offer lending facilities, manage customers’ money, and embed know-your-customer (KYC) identity verifications.

Yapily was the first open banking infrastructure provider to offer bulk payment functionality in the UK, enabling end users to bulk pay bills, taxes, and salaries, among other payments. In June 2021, this facility was rolled out to accounting, payroll, and bookkeeping clients of paytech provider, Comma.

Key customers and partnerships

Yapily launched its first listing on the AWS Marketplace in February 2022, enabling the company to access a host of AWS cloud service users. Yapily also noted that its platform integrated with more than 1,600 banks across 17 countries as of February 2022.

It caters to a wide range of industries, including accounting firms, e-commerce companies, crypto providers, and digital wealth application providers. As of July 2021, Yapily had around 100 customers, including American Express and IBM, as well as FinTechs such as Intuit QuickBooks.

In February 2024, Yapily partnered with Ant International , to launch a commercial variable recurring payments (VRPs) service for e-commerce through open banking on mobile platforms, debuting on HungryPanda, a food delivery platform. In August 2020, Yapily partnered with American Express (Amex) to deliver “Pay with Bank Transfer'' payment initiation services for Amex in Europe. Amex controlled the user interface and experience, with no Yapily redirects, while Yapily’s API operated behind the scenes. The company subsequently partnered with AI-based financial data standardization and enriching platform Ntropy, in September 2023, to enable its customers to improve credit decisions, fraud detection, and credit risk assessment.

Funding and financials

Yapily raised USD 51 million in a Series B funding round in July 2021, led by Sapphire Ventures. The funds were earmarked to extend Yapily’s open banking coverage to 95% of Europe by the end of the year and expand its teams in France and Spain. The company also intends to reach new markets in the future including Northern Europe, the Baltics, and Latin America (including Brazil).

Accordingly, the company acquired finAPI in May 2022, to expand its coverage to the Czech Republic, Slovakia, and Hungary. In the 12 months trailing the acquisition, Yapily and finAPI had processed a combined USD 39.5 billion in payments, and the acquisition could essentially double Yapily’s customer base.