Developer of a platform for building business applications FIS has attracted $5 mln from Kama Flow

FIS (Financial Information Systems LLC), a Russian developer of business process automation software, closed an investment round for 310 million rubles. The lead investor was the National Technology Initiative Venture Fund, managed by the investment company Kama Flow, and a number of private investors took part in the deal.

The company's main product is the FIS Platform no-code information systems designer, which lets users create and customize custom corporate applications for the financial sector without writing any code, using visual programming tools. The software does not require any programming skills and replaces the products of the departed western vendors SAS, Oracle, IBM.

Among the implemented cases of the company based on the platform there are solutions for the automation of the credit cycle, risk and troubled assets management, sales and marketing, procurement optimization, etc. The average cost of such a project ranges from 30-50 million rubles, and the implementation period is up to six months.

The funds will be used for international expansion in the regions of Central and South-East Asia, development of the client segment, as well as development and launch of a new generation FIS Platform, which will strengthen the product's market position by increasing productivity and reducing development costs.

The company is one of the key vendors in the market of intellectual no-code platforms and BPM-systems, has implemented over 400 projects for large financial institutions and commercial enterprises in Russia and abroad in the CIS and Southeast Asia (Vietnam, Philippines). Among the clients are Gazprombank, Bank Otkritie, Raiffeisenbank, Sovcombank, Bank Rossiya, Post Bank, S7 Airlines, Rusatom Service, Sheremetyevo airport and others.

Evgeny Kashmensky, the founder and director of FIS: "The investment will intensify the development of several business areas. Kama Flow is a smart investor for us: we expect that the fund will help us improve our corporate governance structure, significantly expand networking and create the necessary prerequisites for a further multiplication of the company's capitalization.

Pavel Okhonin, executive director of Kama Flow: "FIS operates in the dynamic low-code development market and is one of the strongest players in business process automation in the financial sector. The company has significant commercial potential, so we expect that in the near future FIS will take a significant share of the domestic market due to technological advantages and import-substituting capabilities of the platform, a relatively low cost and quick implementation time.