MOTIVE-PARTNERS/BACKBASE
9.6.2022 09:32:09 CEST | Business Wire | Press release
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. This investment will allow Backbase to double down on its vision for Engagement Banking and accelerate its mission of re-architecting banking around the customer.
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 Rather than stitching these legacy applications together and trying to rework banking around outdated technology, banks and credit unions can instantly leverage the power of a cloud-based engagement banking platform to create frictionless customer journeys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. From onboarding, to servicing, to lending, to expanding share of wallet, this investment supports the growth through product expansion and further growing Backbase’s sales and marketing operations.
“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. I couldn't be more excited about the opportunities that lie ahead and the positive impact we can make,” Jouk Pleiter, Founder and CEO of Backbase said. “To all our customers, I personally want to restate our long-term commitment to being your independent, long-term partner in innovation. For us, it is still day one."
“For more than a decade, Backbase has shown leadership and innovation in enhancing digital relationships between financial institutions and its customers,” explained Rob Heyvaert, Founder and Managing Partner of Motive Partners. “We’re excited to support Jouk and the Backbase team with this initial fundraise as they continue to expand, grow and build the leading, customer-centric, Engagement Banking Platform globally.”
Neil Cochrane, Partner at Motive Partners commented, “Backbase continues to lead an innovative category underpinning the banking sector, and we believe that together we have a unique growth opportunity to build upon Backbase’s strong foundations. As Backbase continues its growth journey, we’re excited to leverage our team’s depth of expertise alongside Jouk and the team.”
“Backbase’s proven track record of entrepreneurship and organic growth will continue. Our formula is simple: focus on the needs of our customers and empower highly skilled teams to deliver. We’re changing a big industry, which is hard work. Having critical mass and market momentum allows us to stay laser-focused,” Pleiter added. “Together we’re making it happen.”
About Backbase
Backbase is a financial technology company on a mission to re-architect banking around the customer. Our whitelabel Engagement Banking platform empowers banks and credit unions to rapidly digitize their customer-facing operations and create seamless journeys that meet and exceed the expectations of today's digital-savvy customers. With Backbase, banks and credit unions can put their customers back in the heart of their business.
Industry analysts Forrester, Gartner, Celent, Omdia and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform - including Advanzia, Banco Caja Social, Banco de la Nacion Peru, Bank of the Philippine Islands, Berenberg, BNP Paribas, Citizens Bank, ENT, Greater Bank, HDFC, Judo Bank, KeyBank, National Bank of Bahrain, Navy Federal Credit Union, Natwest, Pictet & Cie, Raiffeisen, SchoolFirst Federal Credit Union, Standard Bank, Société Générale, TPBank, Washington State Employee Credit Union and Wildfire Credit Union.
Backbase was founded in 2003 in Amsterdam (global HQ), with regional offices in Atlanta (Americas HQ), Boise, Mexico City, Toronto, London, Cardiff, Dubai, Kraków, Singapore, Sydney and Tokyo.
About Motive Partners
Motive Partners is a specialist private equity firm with offices in New York City and London, focusing on growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies.
More information on Motive Partners can be found at www.motivepartners.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005161/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Samsung and Mistral AI Announce Strategic Partnership for Intelligence-Driven Semiconductor Infrastructure8.9.2026 18:15:00 CEST | Press release
Collaboration will focus on development and implementation of on-premises AI technologies across Samsung’s chip operationsSamsung makes lead investment in Mistral’s funding round Samsung Electronics Co., Ltd., today announced it has entered into a strategic partnership with Mistral AI to enhance its semiconductor engineering and manufacturing capabilities that will reinforce its leadership in AI chip technologies. The announcement of the partnership was made during the state summit held in Paris between South Korea and France. Under the agreement, Samsung will integrate Mistral’s AI services and solutions—including its flagship large language model, Mistral Large—across its semiconductor operations to develop customized on-premises AI models optimized for intelligence-driven infrastructure. Mistral’s powerful AI platform is expected to provide Samsung with a unique stack of tools that will transform how semiconductors are designed and manufactured. The on-premises enterprise solutions
Sensereo Airo Wins IFA Berlin Innovation Award8.9.2026 17:00:00 CEST | Press release
Prestigious Accolade Recognizes Sensereo’s Next-Generation Approach to Creating Healthier, Smarter Indoor Environments Sensereo, an environmental intelligence company developing next-generation sensing products for safer, healthier and smarter living, was presented with the prestigious IFA Berlin Innovation Award for its Airo modular indoor air quality system. The award was presented during IFA Berlin on Thursday, Sept. 4, recognizing Airo for its innovative approach to helping consumers better understand and manage the quality of their indoor environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260906292649/en/ Winner of a 2026 IFA Innovation Award, Airo is Sensereo’s flagship environmental intelligence platform, combining advanced sensing technology with a modular design that allows users to monitor multiple aspects of indoor air quality and environmental conditions through a single, consumer-friendly system. Desig
Verdantis Rebrands as the AI Super-Agent for MRO, Sets Sights on AI-Native Enterprise Asset Management8.9.2026 16:06:00 CEST | Press release
Nine AI agents now run the MRO decision chain for Fortune 500 plants; new tagline “Anticipate. Resolve. Learn.” Verdantis, the AI company for spare parts and MRO inventory optimization in asset-intensive industries, today unveiled its new brand identity as the AI Super-agent for MRO and announced it is building toward a fully AI-native Enterprise Asset Management (EAM) platform. Verdantis’s super-agent orchestrates nine specialized AI agents across the decisions that decide plant uptime: spare parts, criticality, demand, reorder, and work order planning. These decisions set working capital, maintenance spend, and whether a critical asset runs and, in most plants, they are still made in spreadsheets and disconnected systems. The positioning is for the teams who own uptime - maintenance, reliability, and MRO supply chain leaders in oil and gas, mining, utilities, chemicals, and manufacturing. And it reflects an AI-first architecture: agents decide and act by default; people supervise, ov
HyperLight Welcomes VentureTech Alliance to Series C, Deepening TFLN Integration Across the Semiconductor Ecosystem8.9.2026 16:00:00 CEST | Press release
HyperLight Corporation ("HyperLight"), a leader in thin-film lithium niobate (TFLN) photonics, today announced that VentureTech Alliance ("VTA") has joined its Series C financing round. VTA is a venture investment firm focused on the semiconductor industry, with a portfolio built across the semiconductor technology stack — including circuit design, foundry-adjacent process technology, EDA, advanced packaging, and photonics. VTA's participation extends the ecosystem alignment that defined the round, which brought together investors spanning silicon ICs, foundry manufacturing, electronics manufacturing services, networking, and global infrastructure capital. With VTA's addition, the syndicate now reaches further into the semiconductor manufacturing and design-enablement layers on which high-volume photonics production depends. "The transition to TFLN is not a component decision — it is an ecosystem decision," said Mian Zhang, CEO of HyperLight. "Getting TFLN into volume requires the proc
EcoOnline Appoints Conor O’Loughlin as CEO8.9.2026 16:00:00 CEST | Press release
O’Loughlin brings founder, product and commercial experience spanning startup growth, global SaaS scale and M&A EcoOnline, a global provider of software that transforms how organisations protect people and the planet, today announced the appointment of Conor O’Loughlin as Chief Executive Officer, effective immediately. O’Loughlin succeeds Tom Goodmanson and will lead the Company into its next chapter of growth and innovation, continuing EcoOnline’s mission of keeping employees safe across the globe and supporting more than 11,000 customers. O’Loughlin is an experienced, growth-oriented technology operator and founder. He co-founded fitness technology company Glofox, scaling it into a global SaaS business serving customers in more than 80 countries before its acquisition by ABC Fitness in 2022. Following the acquisition, he served as Platform President and later Global Chief Revenue Officer at ABC Fitness, leading strategy across the company’s revenue-generating activities. “Keeping peo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom