Fintech
Weavr gets EMI license | FinTech Alliance
July 29, 2024
Written by FinTech Alliance in Financial Technology
Weavr, a pioneer in providing integrated financial services, has been granted an Electronic Money Institution (EMI) license by the Maltese Financial Services Authority (MFSA), enhancing its ability to support European B2B SaaS businesses with integrated financial solutions.
– The European e-money license facilitates broader adoption of embedded finance in the B2B SaaS industry. It marks a significant milestone for Weavr, enabling it to offer seamless financial integration and customer experience across Europe.
– Weavr’s operating model, designed to address regulatory concerns and ensure high security standards, has been rigorously reviewed by the MFSA. This review underscores Weavr’s commitment to providing a secure and reliable embedded financial solution.
– The license enables Weavr to develop a robust domiciled IBAN offering and bring a broad range of financial products to Europe, supported by a strategic partnership with Visa. The integration of complete financial workflows will improve productivity and reduce errors for pan-European B2B SaaS companies.
Speaking about getting the EMI license, Alex Mifsud, Weavr co-founder and CEO said:
“This license is a key milestone in the evolution of Weavr. It allows us to deliver our ‘embeddable by design’ operating model, which we have refined over the past few years through our collaboration with several financial partners, in its purest and most powerful form.”