Opyn is the first platform in Italy that speeds and facilitates access to credit for SMEs and simplifies the work of banks. It was founded in 2012 as an online loan broker under the name BorsadelCredito.it but much has changed since then. Today, in addition to supporting thousands of SMEs to obtain credit, it offers its technology in as-a-service mode to financial and corporate entities that through artificial intelligence and machine learning want to support their customers in an instant and smart way.
A new brand
The evolution of their business, which increasingly sees their role as a lending marketplace being complemented by that of a technology enabler for finance and businesses, has given rise to a challenging and exciting project that has just concluded; BorsadelCredito.it has in fact become Opyn.
A new brand that in addition to best telling the evolution of the business wants to fully convey what the reality has always been, a human fintech.
For Opyn, people, primarily employees, are crucial. Indeed, the strength of this fintech lies precisely in its human capital, consisting of professionals who are capable, competent and, above all, passionate about their work.
The search for a brand that could effectively communicate all their potential and propel them into the future led to the choice of a new, international, striking yet meaningful name at the same time.
Opyn was born from the union of the words "open," to represent their openness to change, and "PIN" (personal identification number) to indicate their core business, finance.
Accompanying it is an equally fitting payoff: "to get there," built around a play on English words: to get there and together. The literal meaning of the payoff looks to the future, progress and continuous advancement, while the second tells of togetherness, team and collaboration.
(Read more at: From the evolution of BorsadelCredito.it comes Opyn, the embedded finance enabler for business lending)
The numbers behind the change
Of course, such a transformation would not have been possible without positive underlying numbers: and those of the former BorsadelCredito.it are particularly so. Suffice it to say that the first half of 2021 closed with about 6 million euros in revenues, compared to 4 million for the whole of 2020, and about 2 million in EBITDA. This growth is even more extraordinary considering projections that see them reaching a year-on-year increase of about 4 times revenues and 10 times EBITDA by the end of 2021.
Results that fit well into thealternative lending market, which Statista forecasts will approach 8 billion euros in 2021. This is a rapidly developing market internationally, and Opynè is on par with many European competitors in terms of size, volumes disbursed and, above all, technological capital, which is why it is preparing for cross-border expansion in the next two years.
The future of Opyn
"Soon financial institutions and large corporations will be the main customers of fintech and we will be a reference point for every business-related service, first in Italy and then also abroad," these are the words of Ivan Pellegrini, CEO and Co-Founder of Opyn.
(Read more: Credit Exchange becomes Opyn and focuses on Lending as a Service. Also to expand in Europe)
Fintech has grown a lot but is not content and intends to take advantage of the huge expansion of theembedded finance sector. As confirmed by the McKinsey Report, between 2015 and 2018, the economic profit of the world's leading banks and insurance companies declined by $800 billion and $300 billion, respectively, giving way to the solutions offered by embedded finance that constitute a market with a potential value of more than $7 trillion.
Opyn is ready to enter this emerging sector by putting its technology to work, not only for banks, but also for non-financial companies.
Opening up to new markets and international expansion will lead this entity to achieve revenues that will be over 100 million euros in three years reaching an EBITDA margin of 40 percent.
Opyn is constantly evolving to respond quickly to changes in an industry, fintech, that relies on continuous innovation and speed.
Opyn is ready to grow, together, to get there.
Don't miss appointments with Greta Antonini, Marketing Manager, and Ivan Pellegrini, Ceo and Co-founder of Opyn at Digital Innovation Days.
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