Fimple secures £7.45m to roll out composable cloud‑native core banking across GCC
This article covers Fimple, a fintech startup, which has raised approximately £7.45m ($10m) in a growth funding round to accelerate its expansion into the Gulf Cooperation Council (GCC) region. The funding will bankroll commercial rollouts in Dubai and Riyadh and support product development and regulatory work to enable banks, fintechs and embedded finance providers in the GCC to modernise core banking systems.
Fimple, a fintech startup headquartered in London and Istanbul, has raised approximately £7.45m ($10m) in a growth funding round to accelerate its expansion into the Gulf Cooperation Council (GCC) region. The follow-on capital will bankroll commercial rollouts in Dubai and Riyadh and fund product and regulatory work to support local deployments.
Why it matters
Banks and fintechs in the GCC are actively modernising core systems to support faster product launches and embedded finance. A composable, cloud-native core banking platform that can be deployed on-premise or in the cloud reduces integration time and regulatory friction for local partners, making this kind of technology strategically relevant for regional financial services modernisation.
Inside the product
Fimple offers a modular core banking platform designed for rapid configurability. The company says it provides a suite of banking and lending capabilities, including core banking, digital lending, buy-now-pay-later (BNPL) functionality and Banking-as-a-Service (BaaS) delivery. The platform supports alternative and participation-based financial models and can be integrated into partner ecosystems, which is useful for incumbent banks and embedded finance providers seeking incremental product launches rather than large, multi-year replacements.
Founded in 2022, Fimple emphasises deployment flexibility and regulatory readiness as differentiators for international rollouts. The funding is earmarked for product development, partner integrations and local compliance work across the GCC.
Who are the investors?
The round was led by Ak Asset Management VC Fund with continued support from DN Capital, Smartfin and APY Ventures. The announcement describes the raise as a follow-on investment supporting Fimple’s regional expansion and product roadmap.
Göktürk Işıkpınar, CIO at Ak Asset Management VC Funds, said:
We invest with a long-term perspective in platforms that create sustainable ecosystem value. Fimple’s modular architecture enables institutions to scale with speed and efficiency. Combined with a strong leadership team and clear strategic execution, Fimple represents a compelling investment opportunity. With an established footprint in Türkiye and active operations across international markets, Fimple is accelerating its GCC growth strategy, aiming to become the trusted core banking technology partner for banks, fintechs, and embedded finance players. The investment will further support product development, ecosystem integrations, and regulatory readiness tailored to GCC market requirements.
Guy Ward Thomas, Partner at DN Capital, added:
Banks globally are under pressure to replace legacy systems while competing with agile fintech players. Fimple’s composable architecture enables institutions to launch and scale new products quickly. We are pleased to continue supporting Fimple as it builds momentum and expands into high-growth markets.
Jürgen Ingels, Partner at Smartfin, commented:
Core modernization has moved from a multi-year IT project to a strategic growth imperative. Fimple is building the kind of future-ready banking platform that gives institutions the agility to launch new products faster, integrate ecosystems seamlessly, and evolve without friction. We’re proud to continue backing the team as they further accelerate internationally.
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Founder perspective
The company was founded by a team with experience in core banking. Mücahit Gündebahar, CEO of Fimple, framed the raise as validation of the company’s strategy and a means to deepen regional partnerships.
Commenting on the announcement, Mücahit Gündebahar, CEO of Fimple, said:
This follow-on investment is a strong validation of our vision and execution. With Ak joining our investor base, we are further strengthening our ability to scale responsibly and strategically. The GCC is a key growth market for us, where demand for composable and cloud-native core banking platforms is accelerating. This investment enables us to deepen our regional footprint and support more institutions as they modernize and innovate.
The bigger picture
Fimple’s move reflects a wider trend: financial institutions in the Middle East are prioritising modular architectures that enable faster launches and tighter partner integrations. For vendors, success in the GCC requires investment in local regulatory readiness and delivery capabilities.
The deal also adds to a steady stream of UK-headquartered fintechs expanding internationally from a London base. It underlines ongoing interest from fintech investors in companies that combine composable core technology with regional go-to-market plans. As cross-border demand for modern core banking grows, London and European fintechs that can meet local compliance and partnership needs are likely to see more funding and commercial opportunities.
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