Oper was among the 9 fintech startups to graduate from the F10 FinTech Incubator & Accelerator in Zurich
Fintech start-up Oper has raised €500,000 ($564,645) in their pre-seed funding round. In addition to Barclays and early-stage funding group Pitchdrive, three angel investors also participated in the round. The capital raised serves to further scale the digital revolution of Europe’s home loan market.
Oper was among the 9 fintech startups to graduate from the F10 FinTech Incubator & Accelerator in Zurich that helps startups in connecting with the other Swiss entrepreneurs, experts, mentors and investors for the early stage venture and late stage venture investing.
Oper offers lenders and credit brokers an out-of-the-box technology solution to provide consumers with digital home loans. The current COVID-19 crisis has reinforced the need for digital banking processes as consumers expect quick turnarounds and transparency in decision-making processes, all from the comfort of their own homes.
Banks have been looking for ways to accelerate digital capabilities and are increasingly adopting cloud-based SaaS solutions to meet changing consumer needs.
Since its inception in 2018, Oper has already digitized the mortgage processes of lenders in three European countries. Oper has also been nominated by tier 1 banks to participate in top fintech accelerators including Plug and Play as well as Barclays Techstars.
Early product testing has proved that well-thought-out digitization not only lowers transaction costs but also leads to increased sales. Implementation of Oper’s digital solution allowed an Austrian bank to reduce their credit decision processing time from days to minutes.
The investment will be used to build the team, further product development, and expand throughout Europe. In addition to capital, the investors also offer access to their extensive networks in the financial services sector and experience in scaling technology start-ups.