Business Wire

MOTIVE-PARTNERS/BACKBASE

Share
Engagement Banking Leader Backbase Raises €120M From Motive Partners

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 Rather than stitching these legacy applications together and trying to rework banking around outdated technology, banks and credit unions can instantly leverage the power of a cloud-based engagement banking platform to create frictionless customer journeys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

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

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

NetApp First to Embed Data Breach Detection into Enterprise Data Storage14.10.2025 14:00:00 CEST | Press release

New capabilities reinforce NetApp as the most secure storage on the planet NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced new industry-leading cyber resilience capabilities that further strengthen the most secure storage on the planet. The newly enhanced and renamed NetApp Ransomware Resilience service enables customers to make their data infrastructure a leading part of their comprehensive security strategy with integrated AI-powered ransomware detection and two new capabilities: a first-in-the-industry ability for enterprise storage to detect data breaches; and isolated recovery environments to enable safe and clean recovery of mission-critical data. As enterprises face their most pressing challenges—AI innovation, data modernization, cyber resilience, and cloud transformation—they need a secure, reliable, and efficient data infrastructure. While investments in AI are creating unprecedented opportunity for enterprises, they are also expanding the

NetApp Introduces Comprehensive Enterprise-Grade Data Platform for AI14.10.2025 14:00:00 CEST | Press release

Exabyte-scale AFX systems with disaggregated storage and AI Data Engine built with NVIDIA deliver on AI vision NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today unveiled visionary new products, strengthening its enterprise-grade data platform for AI innovation. As the era of AI shifts from initial pilots to mission-critical agentic applications, AI-ready data on modern enterprise-grade data infrastructure delivers the results needed for AI-driven businesses. The new NetApp AFX decouples performance and capacity with a disaggregated NetApp ONTAP that runs on the new NetApp AFX 1K storage system. NetApp AI Data Engine is a secure, unified extension of ONTAP integrated with the NVIDIA AI Data Platform reference design that helps organizations simplify and secure the entire AI data pipeline – and managed via single, unified control plane. Together, these capabilities unify high-performance storage and intelligent data services into a single, secure, and scalable of

NetApp Transforms Enterprise Cloud with Google Cloud14.10.2025 14:00:00 CEST | Press release

Flexible and powerful block storage now available in Google Cloud NetApp Volumes, along with even greater AI integration for enterprise transformation NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that it has deepened its collaboration with Google Cloud to help customers accelerate cloud transformation and address critical business challenges. New block storage capabilities in Google Cloud NetApp Volumes enhance unified storage for today’s most important data workloads, including virtualized environments, self-managed databases, and AI innovation. The NetApp data platform enables any Al model—whether on-premises or in any major public cloud—to securely access a customer’s entire data estate, without needing to move data between environments. New integrated caching capabilities in Google Cloud NetApp Volumes allow for seamless access to that unified data foundation, along with advanced new integrations with Gemini Enterprise, empowering customers t

NetApp Collaborates with Cisco on Enterprise-Grade Converged Infrastructure with Disaggregated Storage for AI14.10.2025 14:00:00 CEST | Press release

NetApp AFX with Cisco Nexus integration delivers foundation for enterprise AI Networking NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced a collaboration with Cisco to deliver a significant evolution in converged infrastructure that builds on over 20 years of work together. The newly introduced NetApp AFX architecture now integrates with Cisco Nexus switches for intra-cluster connectivity and will soon extend to FlexPod AI. This integration continues the companies’ shared vision of providing customers with an enterprise-grade foundation for AI. NetApp AFX is powered by a disaggregated NetApp ONTAP, the industry-leading storage operating system trusted by tens of thousands of enterprise customers across industries to manage exabytes of data. The integration of Cisco Nexus 400G switches delivers the ultra-high bandwidth, low-latency, and lossless networking essential for scaling AI workloads. This ensures that customers can meet the performance demands

Xceedance Secures Growth Investment from Portage Capital Solutions14.10.2025 14:00:00 CEST | Press release

Xceedance, a global provider of technology-driven business solutions for the insurance industry, has received a growth investment from Portage Capital Solutions, a leading investor focused on the financial technology market, in exchange for a minority equity stake. With this investment, the total capital raised by the company, across equity and debt, now stands at approximately $100 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251014802482/en/ Arun Balakrishnan, Group Chairman & CEO, Xceedance This milestone marks the company’s first institutional equity financing since its founding in 2013, underscoring its position as one of the most disruptive players in the insurance services sector. The capital will be used to fuel Xceedance’s expanding portfolio of AI-enabled solutions and fund the accretive acquisition of insurance-focused service providers. “Since inception, Xceedance has enjoyed exceptional, bootstrapped

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
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye