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 Rather than stitching these legacy applications together and trying to rework banking around outdated technology, banks and credit unions can instantly leverage the power of a cloud-based engagement banking platform to create frictionless customer journeys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
Allianz Delivers Record Result and Is Well on Track to Achieve Its Targets7.8.2026 07:10:00 CEST | Press release
2Q 2026 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806509750/en/ Oliver Bäte, Chief Executive Officer of Allianz SETotal business volume at 45.6 billion euros, an internal growth of 5.7 percent1, with contributions from all segments. Asset Management delivers excellent growth. Operating profit rises 10.6 percent to a record level of 4.9 billion euros. Shareholders’ core net income at 2.6 billion euros; 12.7 percent below last year. Adjusted for a divestment gain last year and offsetting measures following the sale of the stake in our Indian JVs, underlying growth is strong at 10 percent. 6M 2026Total business volume at 98.6 billion euros, an internal growth of 4.3 percent1, driven by Property-Casualty and especially Asset Management. Operating profit rises 8.6 percent and reaches a record level of 9.4 billion euros. Shareholders’ core net income advances 15.5 percent to 6.4 billion euros. Adjusted for divestment effec
Pure Lithium Receives Australian Patent for "Lithium Metal Anode and Battery"6.8.2026 22:49:00 CEST | Press release
Pure Lithium Corporation, a vertically integrated next-generation lithium metal battery technology company, today announced that the Australian patent office has granted the company a patent (AU2025271196) titled “Lithium metal anode and battery.” Australia mines roughly half of the world’s lithium, yet has no domestic battery production at all; every battery the country uses is imported. The granted patent is directed to ways in which Pure Lithium’s technology can change that. Rather than trying to catch up in lithium-ion, Australia can leapfrog the incumbent technology and establish a next-generation industry. As worldwide demand for batteries grows, every country capable of making batteries needs to be making them. That is Pure Lithium’s central goal: opening up markets around the world through battery technology that enables local, independent supply chains, keeping pace with demand and strengthening economies. China controls the lithium-ion battery supply chain and manufactures th
Vercel Appoints Amit Agarwal, Standard Template Labs CEO and former Datadog President, to Board of Directors6.8.2026 17:00:00 CEST | Press release
The product leader who helped scale Datadog from early-stage startup through IPO brings deep product expertise to Vercel's board Vercel, the agentic infrastructure company, today announced the appointment of Amit Agarwal, former president of Datadog and founder and CEO of Standard Template Labs, an AI-first service management platform, to its board of directors. Agarwal brings 25 years of enterprise software experience and a track record of scaling a product-led company from its earliest days into one of the defining public software companies of the cloud era. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260806738617/en/ Amit Agarwal Agarwal joined Datadog in 2012 as its Chief Product Officer and was named President in 2022, overseeing product, corporate development, and go-to-market functions as the company grew past $2.5 billion in annual revenue. Across 13 years, including Datadog's 2019 IPO and its first years as a pub
Laserfiche Launches Advanced Enterprise Security to Deliver Multi-Region Disaster Recovery and GovRAMP-Ready Compliance for Highly Regulated Industries6.8.2026 16:00:00 CEST | Press release
New security suite extends Laserfiche’s proven security controls and adds near real-time data replication for governments, law enforcement and security-conscious enterprises. Laserfiche — the leading SaaS provider of intelligent content management — today announced the launch of Enterprise Security, an advanced suite of security enhancements designed for organizations navigating complex regulatory environments. Enterprise Security addresses GovRAMP and CJIS (Criminal Justice Information Services) security requirements based on the NIST SP 800-53 framework. For organizations handling privileged citizen, legal or corporate data, these built-in controls streamline audit preparation and fortify defenses. With organizations placing a higher priority on data stewardship and corporate governance, enterprise IT leaders require a security architecture that protects data without slowing down operations. Laserfiche Enterprise Security extends Laserfiche Cloud’s highly resilient infrastructure wit
AM Best Upgrades Fortegra Insurance Subsidiaries to A (Excellent)6.8.2026 15:00:00 CEST | Press release
Rating actions follow completion of the DB Insurance acquisition The Fortegra Group, Inc. (“Fortegra” or the “Company”), a global specialty insurer and part of DB Insurance Co., Ltd., today announced that AM Best has upgraded the Financial Strength Rating (FSR) of its insurance subsidiaries to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a” (Excellent) from “a-” (Excellent). The outlook assigned to the ratings is stable, and AM Best removed the ratings from under review with positive implications. KBRA has also upgraded all of its ratings for the Company. The upgrade applies across Fortegra’s insurance platform. The property and casualty companies include Lyndon Southern Insurance Company, Insurance Company of the South, Response Indemnity Company of California, Blue Ridge Indemnity Company, Fortegra Specialty Insurance Company and Fortegra Europe Insurance Company SE. The life and health companies include Life of the South Insurance Co
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