Dutch-based with Icelandic co-founder fintech startup Five Degrees raises €10 million

Iceland Investments 28 November 2016
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Five Degrees, a fintech leader delivering next generation financial technology for digital banking, has taken an important step forward in its growth strategy with an investment of € 10 million. This investment is from a new investor Karmijn Kapitaal and from existing shareholders 5Square and Velocity Capital.

This new round of investment will enable Five Degrees to further implement its growth strategy focusing on product development and international expansion. Earlier this year, Five Degrees was elected as one of the top 50 FinTech game changers in Europe. The company provides a unique digital platform, Matrix, to banks with ambitions to enter the rapidly evolving world of digital banking. Five Degrees has been recognized by Gartner as one of the potential global leaders in technology for digital banking.

Martijn Hohmann, CEO Five Degrees, "For us, Karmijn Kapitaal is more than just a new shareholder. Their investment is a sign of trust in our belief that delivering top technology is about people and creating an environment that is about unconventional thinking brought to perfection.”

Karmijn Kapitaal will hold a minority stake in Five Degrees. Hadewych Cels, partner of Karmijn Kapitaal, “We see Five Degrees as a winner in FinTech and as an unique opportunity to broaden our portfolio. In addition we found that the co-operation with the Five Degrees team is very good and based on respectful relationships. We think this is a premise for success. We are looking forward to support the company reaching its objectives and shine even more.”

About Five Degrees

Five Degrees is a financial technology provider with offices in The Netherlands, Iceland and Serbia. Matrix, their digital banking platform, empowers financial institutions to enter the era of modern digital banking. Five Degrees sees Matrix as the hub that connects channels, customers, products, services and the fintech ecosystem.


About Karmijn Kapitaal

Karmijn Kapitaal invests (private equity) in Dutch SME’s. Karmijn was founded by three women and based on a strong believe in diversity. Karmijn has invested in companies such as Fred de la Bretonière (shoes), Tuvalu Media (TV production), Enrico (food) and Jopenbier (beer).


About Velocity Capital

Velocity Capital is the investment company of Willem Willemstein. Velocity Private Equity is the venture capital arm of Velocity Capital. Velocity Private Equity exclusively focuses on early- and growth stage companies in Fintech. Velocity Private Equity currently has a global portfolio of eight fintech ventures.


About 5square

5square is an independent investment company that invests in inspirational entrepreneurs and their companies. Founded in 2004, 5square has since invested in companies that have had substantial impact on the sectors. 5square (founded in 2004) has built a portfolio of investments that have had meaningful impact in the sectors of these companies. The network and experience of 5square consist of a broad range of entrepreneurs and family offices that participate actively in realizing the strategic goals of the companies in portfolio. The equity investments range from EUR 1 -10 million in exchange for a substantial minority position.