Unlimit BaaS’s comprehensive suite of payment services will enable Velmie to support the launch and expansion of fintech companies across Europe.
LONDON, UK, May 7, 2024 - Velmie, digital banking solutions provider, has today announced the partnership with Banking as a Service (BaaS) platform of Unlimit, a leading global fintech company.
The partnership brings together Unlimit's cutting-edge BaaS offering with Velmie's platform to provide users with scalable financial solutions empowered by the Unlimit BaaS API. Velmie’s clients will now be able to navigate regulatory complexities with ease by accessing a range of solutions, including digital payments and white-label cards. Clients will benefit from Unlimit’s customisable platform and rapid integration capabilities and will also be able to avoid the monetary and time costs associated with entering new markets.
Together, Unlimit and Velmie will be ensuring robust regulations while allowing clients to focus on their core services and solutions.
Europe has long established its position as a fintech hub due to its position as a global leader in both the growth of financial institutions and financial markets alike. It makes up 17% of the global cumulative valuation of fintech (around USD 2.26 trillion), with the European fintech’s digital assets market projected to grow by 3.66% (2024-2028) resulting in a market volume of US$448.40bn in 2028.
Jovi Overo, Managing Director at Unlimit, said: “This strategic move will offer clients a pathway to rapid growth and innovation, enabling European fintech businesses to lead the digital finance revolution. The partnership is the next step of the evolution of financial services, where agility, inclusivity, and customisation are prioritised.”
Slava Ivashkin, Founder and CEO of Velmie, commented: «We are thrilled to have found such a strong business and technological alignment in our partnership with Unlimit. This collaboration will expand our offerings and add value to our customers around the EU. Velmie's adaptable platform is uniquely designed to meet the diverse needs of fintechs, ensuring scalability, flexibility, and future readiness. Together with Unlimit, our combined strengths present a turnkey solution that caters to the needs of all market players."
The partnership will initially focus on targeting the European market, with plans to expand to other markets in the future.