“We prefer to remain on the sidelines,” says Yapily boss amid open banking consolidation

The CEO of Lakestar-backed UK open banking startup Yapily says
the fintech prefers to “remain on the sidelines” amid expected further
consolidation in the open banking sector.

Yapily CEO and founder Stefano Vaccino made the comments as new
figures show Yapily, an open banking infrastructure player which let businesses
access bank data and initiate open banking payments, posted improved revenues and
profits in 2025.

Turnover increased year-on-year in 2025 from £6.7m to £16.7m while Yapily swung from a
£16.2m loss to a £355,000 profit.

Vaccino attributed the improved financial performance to running
a lean organisation and generating increased revenues from existing customers,
which include Revolut, Intuit, Adyen and Google. Yapily employed 102 people at 2025 year
end.

Yapily’s last funding round was in 2021, raising a $51m Series
B, led by Sapphire Ventures, with existing investors Lakestar, HV Capital and
Latitude also participating.

Vaccino said Yapily, which has been profitable since 2025, had
not undertaken funding since the Series B, as it wanted to prove open banking
was a viable space and Yapily was in it for the long haul.

Future funding, he said, would be carried out “if we think open
banking needs an acceleration”.

Vaccino said exciting years lay ahead for open banking.

He said: “I think 2027 and 2028 are going to be very important
years from an open banking perspective.”

Vaccino pointed to the next iteration of CVRPs (Commercial
Variable Recurring Payments). CVRPs are a type of open banking payment that
lets customers authorise businesses to pull recurring, variable amounts
directly from their bank accounts. CVRPs are now moving into e-commerce.

Another change is FiDA (Financial Data Access), an EU regulatory
framework designed to extend open banking beyond payments, which is set to become law soon.

Ahead of these changes, Vaccino said Yapily had been investing in recruiting
engineers, building up its offering. Meanwhile, the open banking sector has seen recent
consolidation.

Payment company Paypoint has acquired open
banking company obconnect while open banking company TrueLayer has acquired
Dutch fintech in3 and pay-by-bank company Zimpler.

Vaccino said he expected to see more consolidation in the
sector.

Asked if Yapily had been engaged in M&A talks, Vaccino said: “We prefer to remain on the sidelines for the moment and focus on organic
growth and sustainable growth.”