[Funding alert] London-based Open API Platform Ozone API Secures £8.5Million in Funding

Thursday 25, 2024 | By Startup Rise EU

London-based Open API Platform Ozone API Secures £8.5Million in Funding Gresham House Ventures. With the investment, the company intends to expand its workforce, support all upcoming standards, and give banks the resources they need to profit from open APIs.

London-based Open API Platform Ozone API Secures £8.5Million in Funding Gresham House Ventures. With the investment, the company intends to expand its workforce, support all upcoming standards, and give banks the resources they need to profit from open APIs.

Since its founding in 2017, Ozone API has developed the industry's top standards-based open API platform, empowering banks all over the world to offer open APIs that abide by legal requirements and generate new sources of income.

Read also - London-based OpenDialog Secures over €7 Million in Series A Round Funding

Every worldwide standard is supported by the Ozone API platform. Banks and regulators worldwide rely on it to provide them with safe, high-performing API technology that complies with standards, enabling them to prosper in the emerging open banking landscape.

Fintech has seen an increase in interest in open banking, but as it moves closer to commercialization, it is also going through growing pains. TrueLayer was the first open banking provider in the UK to provide several recurring payment methods with a single API in 2023.

Read also - Berlin-based Packmatic Secures €15 Million in Series A Round Funding

James Hendry, Associate Director at Gresham House Ventures, commented: “Ozone API is exactly the sort of business we look to partner with — an industry-recognised world-class product, led by a founding team who deeply understand their market and who have built their business in a capital-efficient manner. We look forward to supporting management as they focus on growing significantly over the coming years.”

Huw Davies, Co-Founder & CEO at Ozone API, commented: “Open finance is now an unstoppable transformational force, and we’ve been at the forefront of driving this change. We’re thrilled that Gresham House Ventures is partnering with us to accelerate our global expansion.”

About Ozone API

The most popular standards-based platform for managing the complexities of open banking is Ozone API, which enables any financial institution to easily comply with the legal and business needs for an open API.

Read also - London-based Metris Energy Secures €2.3 Million in Pre-Seed Funding

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