# SIA Nordigen Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sia-nordigen-solutions

- Industry: Software
- Headquarters: Riga, Latvia
- Website: www.nordigen.com
- Total disclosed funding: $3.3M
- Latest round: Seed (Jun 2, 2021)
- Investors on record: 6

## About

Based in Latvia, SIA Nordigen Solutions Ltd specializes in providing financial data access products that empower banks and financial institutions to analyze consumer behavior and creditworthiness efficiently.Founded in 2016 in Riga, Latvia, SIA Nordigen Solutions Ltd develops open banking technology, enabling secure access to transaction-level data for financial institutions. The company is led by Rolands Mesters, who has a history of entrepreneurship in the fintech sector. In July 2022, SIA Nordigen was acquired by GoCardless Limited, enhancing GoCardless’s capabilities in open banking. The company has successfully closed 5 deals, with a total amount raised of EUR 2.10 mn from notable investors including Black Pearls VC and Highgoal Capital, all during its latest Seed funding round.Nordigen offers a suite of financial data access products designed to facilitate banking and financial institutions' understanding of consumer behavior and creditworthiness. Their core offerings include a powerful open banking API that allows clients to securely access transaction-level data from various banking institutions. This API supports real-time data aggregation and analysis, aiding businesses in enhancing credit scoring models and improving risk assessment processes. Their solutions primarily cater to fintech companies, lending platforms, and traditional banks looking to modernize their services and are available across multiple geographical markets, including the European Union and parts of North America and Asia.In the most recent fiscal year, 2022, Nordigen reported revenue of EUR 1,244,778.78. However, the company incurred an EBITDA loss of EUR 2,043,086.30 during the same period, reflecting ongoing investment in growth and development.Following its acquisition by GoCardless Limited in July 2022, SIA Nordigen plans to leverage its new parent company's resources to enhance its open banking connectivity. The integration aims to expand coverage and introduce new payment types, including Variable Recurring Payments, aligning with market demands. The recent funding will support these initiatives, enabling Nordigen to innovate and develop new products geared towards improving client offerings in open banking.

## Funding rounds

- Seed, Jun 2, 2021, $2.6M — Inventure, Balnord, Id4 Ventures, Highgoal Capital, Calchas Holding
- Seed, Sep 18, 2018, $0.7M — Inventure, Seedcamp

## Investors

- Inventure (https://capitalatlas.ai/funds/inventure) — Seed
- Seedcamp (https://capitalatlas.ai/funds/seedcamp) — Seed
- Balnord — Seed
- Id4 Ventures (https://capitalatlas.ai/funds/id4-ventures) — Seed
- Highgoal Capital (https://capitalatlas.ai/funds/highgoal-capital) — Seed
- Calchas Holding (https://capitalatlas.ai/funds/calchas-holding) — Seed