Founded in 2020 by CEO Christian Frahm, United Fintech has so far acquired five fintechs, employing over 160 people across 8 countries. Firms acquried under the United Fintech roll up include Cobalt, FairXchange, TTMZero, Athena Systems and NetDania.As part of the new financing deal, two rotating board seats will go to BNP Paribas and Citi and will contribute to the platform’s strategic direction. “To BNP Paribas, it is all about trust in the validation of fintechs, ensuring they meet the highest standards of excellence and offering a robust ecosystem for innovation," says Junaid Baig, head of strategic investments & co-head of strategy with BNP Paribas Global Markets. "Managing to combine the best of both worlds, we see this as the beginning of a new era where industry participants can grow together.”“Procuring specialist fintech firms is increasingly challenging for large institutions," adds Ayesa Latif, global head of foreign exchange products at Citi. "United Fintech’s neutral Digital Transformation Platform fills gaps in the market, complements our overall offering, and drives market innovation through collective efforts.” United Fintech CEO Christian Frahm, says the firm expects to attract more leading institutions to the collaborative movement. "Our vision of a neutral industry platform for digital transformation, to swiftly enable access to the world’s most innovative fintechs, is shared by every single C-level executive we’ve spoken with for the past four years, and their support energises our pursuit of a unified ecosystem," he says.