Skaleet

The company operates on a Software-as-a-Service (SaaS) business model, offering its cloud-native Core Banking Platform (CBP) to a diverse client base that includes traditional banks, neobanks, fintechs, and other financial service providers. Its revenue is generated by providing these institutions with the technological foundation needed to launch and manage digital banking services, thereby avoiding the high costs and slow pace associated with legacy IT systems. Skaleet serves over 30 clients across more than 15 countries, with a significant presence in Africa. The business model enables clients to pursue various strategies, including Banking-as-a-Service (BaaS), where they can offer white-label banking products, and Banking-as-a-Platform (BaaP), creating ecosystems of financial services.

Skaleet's core product is a modular and API-centric platform that allows for the rapid development and deployment of financial products. It is designed to be cloud-agnostic, hosted on EU-based data centers to avoid US Cloud Act exposure, and boasts 99.99% uptime. Key features include comprehensive account and card management, a payment engine handling SEPA transfers, a flexible lending module, and configurable customer onboarding processes. The platform is built on a microservices architecture, which provides clients the flexibility to select and integrate modules as they grow. This allows financial institutions to automate complex back-end processes and focus on customer-facing innovation, reducing IT operating costs by 60-80% and enabling new service launches in as little as four months. A significant milestone was a €25 million funding round led by Long Arc Capital in January 2021, which has been pivotal in accelerating the company's global expansion and product development.