Engagement Banking platform Backbase raises €120M from Motive Partners. This growth investment values Backbase at €2.5 billion.

Backbase, creator of the category-leading Engagement Banking Platform, raised €120 million in growth equity funding from Motive Partners. Having grown organically to over €200 million in revenue, Backbase is now partnering with a Fintech specialist private equity firm, to further strengthen its claim on the Engagement Banking category.

This growth investment values Backbase at €2.5 billion. Motive Partners is a founder-friendly partner, fully supporting Backbase in remaining an independent force and driving the Engagement Banking strategy, by continuing to focus on customer-centric innovation that transforms the financial services industry’s siloed channels and legacy applications.

Most banks struggle with a patchwork of disconnected, point and channel solutions that were never designed to service the customer holistically, leaving behind a raft of broken journeys for their customers.

„Engagement Banking is a paradigm shift. Rather than stitching these legacy applications together and trying to rework banking around outdated technology, banks and credit unions can instantly leverage the power of a cloud-based engagement banking platform to create frictionless customer journeys across all the stages of the customer lifecycle,” according to the press release.

„From onboarding, to servicing, to lending, to expanding share of wallet, this investment supports the growth through product expansion and further growing our sales and marketing operations,” the company explains.

“Today is a major milestone for more than 2,000 Backbasers and 150 customers around the world, to celebrate the incredible progress we made. With this partnership, we’re even better equipped to drive our Engagement Banking vision to the next level,” Jouk Pleiter, Founder and CEO of Backbase said.