Qwist GmbH

Based in Germany, Qwist GmbH specializes in Open Finance solutions, offering API-driven products that optimize financial data management and transaction processing for various clients, including banks and financial institutions. Founded in 2019 and headquartered in Hamburg, Germany, Qwist GmbH provides Open Finance solutions through its innovative API products. The company has successfully completed 4 deals, with its most recent funding round being a Series A that raised EUR 22. 000 mn on November 16, 2023, led by SBI Investment alongside other investors.

The company was previously part of Finleap's portfolio and has undergone a strategic shift as it was fully acquired by Crastorehill in November 2023 to enhance product offerings and expand its market reach. Helmut Kranzmaier is the founder of Qwist GmbH, and the current executive team includes CEOs André Bajorat and Nicola Breyer. Qwist is a leading provider of Open Finance solutions, specializing in API-driven products that facilitate efficient financial data management and transaction processing across various sectors. Their core offerings include the dgtal SwitchKit Suite, enabling seamless account and portfolio switching for banks and financial institutions in minutes, enhancing customer satisfaction and onboarding processes.

The ndgit Open Banking Suite empowers clients to comply with PSD2 and future regulations like PSD3, PSR, and FIDA for data delivery, while the nrich Financial Data Suite provides categorized financial transaction data for verification, de-risking, and upsell opportunities. Additionally, the mbed Digital Lending Suite integrates digital lending into e-commerce platforms, facilitating high-value purchases at competitive interest rates. Qwist serves a diverse clientele, including banks, financial institutions, PropTechs, insurance companies, and retail lenders, primarily in the DACH and Iberian regions. In 2022, Qwist GmbH generated a revenue of EUR 8,035,195, with an EBITDA loss of EUR 11,094,388.

The company’s revenue model is structured around subscription models and partnership agreements with its diverse client base. Flagship products like the dgtal SwitchKit and ndgit Open Banking Suite are priced based on the value they deliver in streamlining financial transactions and regulatory compliance, with clients paying for access to these products depending on their specific needs. The recent acquisition by Crastorehill is expected to enhance Qwist’s product offerings and expand its presence in various regions. The management plans to leverage the recent funding, raised in a Series A round, to develop new products and explore entry into new markets.

Specific details about the upcoming products and their expected delivery timelines are not disclosed, but the company aims to enhance its competitive position and broaden its service capabilities.