EXTRABANCA
Independent bank that aims to favor the social inclusion of people migrants.
| Date | Investors | Amount | Round |
|---|---|---|---|
€15.0m | Growth Equity VC | ||
| Total Funding | 000k | ||
| EUR | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 4 % | 9 % | 21 % | 7 % | 28 % | 41 % | 2 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (52 %) | (61 %) | (18 %) | 6 % | 13 % | 34 % | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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EXTRABANCA was founded with a vision to cater to the financial needs of immigrants in Italy, a segment often overlooked by traditional banks. The founders, whose names remain less publicized, identified a gap in the market where immigrants faced challenges in accessing banking services due to language barriers and lack of tailored financial products.
Launched in the late 2000s, EXTRABANCA set out to provide a more inclusive banking experience. The bank focused on offering services that were not only accessible but also understandable to its diverse clientele. This included multilingual support and products designed to help immigrants manage their finances more effectively.
Over the years, EXTRABANCA has grown steadily, carving out a niche in the Italian banking sector. A significant milestone in its journey was securing a major funding round that enabled it to expand its operations and enhance its digital banking platform. This investment was crucial in helping the bank reach more customers and improve its service offerings.
EXTRABANCA's story is one of recognizing an underserved market and addressing its needs with empathy and innovation. By focusing on inclusivity and understanding, the bank has not only built a loyal customer base but also set a precedent for how financial institutions can serve diverse communities effectively.