Nordigen, a Latvian open banking API provider, has successfully raised €2.1 million in funding to enhance its free data connection services amid the growing fintech industry in Latvia.

Information on the Target

Founded in 2016 by entrepreneurs Roberts Bernans and Rolands Mesters, Nordigen is a pioneering provider of a free, open banking API that facilitates access to PSD2 data connections with all major European banks. This innovative service plays a crucial role in the financial technology landscape, being utilized by numerous banks, lenders, and fintech companies across Europe. While several companies offer similar services, Nordigen's key differentiator lies in its commitment to providing these connections at no cost.

Nordigen's API enables developers to securely link with banking services, streamlining the process of accessing account information without the traditional complications or costs associated with screen scraping technologies. This free offering addresses the growing demand for efficient and secure banking data access, establishing Nordigen as a significant player in this rapidly evolving market.

Industry Overview in Latvia

The fintech industry in Latvia has experienced significant growth over the past few years, driven by a supportive regulatory framework and a strong emphasis on innovation. The country has emerged as a h