* CEO Stiven Muccioli: “We’re building financial rails for the future”
* 18M Egyptians supported daily via Damen Cash partnership
* MENA outpaces Europe in next-gen financial infrastructure
* Egypt as an Inspiring Model: Fintech Serving Millions Daily
* Fintech Growth in Saudi Arabia and Qatar Signals Regional Readiness for Change
* Regional Fintech Investment Boom Fuels Our Expansion Strategy
* Fintech Investments in MENA Grew by 650% in Just Three Years
* Message to Investors: Egypt and MENA Are the Future Engines of Banking Innovation
By: Mostafa Eid
• As financial ecosystems in the Middle East and North Africa (MENA) rapidly evolve, Italian fintech company BKN301 is positioning itself as a key enabler of digital transformation across the region. In an exclusive interview, Founder and CEO Stiven Muccioli outlines the company’s mission to democratize finance through its modular, API-first Banking-as-a-Service (BaaS) platform. With a sharp focus on emerging markets, BKN301 is already making a measurable impact—powering over 18 million users daily in Egypt via its partnership with Damen Cash, and actively expanding into Saudi Arabia and Qatar.
• Muccioli highlights how MENA markets are leapfrogging legacy financial systems by embracing cloud-native infrastructure and agile fintech models. He also reflects on regulatory collaboration, the growing role of AI and embedded finance, and BKN301’s ambitions for 2025 and beyond. As MENA redefines what financial innovation looks like, BKN301 is building the rails to power what’s next.
Let’s start with the basics: What is BKN301 all about?
BKN301 was born out of one core belief: finance must become accessible, modular, and borderless. We’re living through a radical shift – traditional banks are no longer the only gateway to financial services. The real drivers of tomorrow’s economy will be those who enable value-added services at scale. That’s why we created a modular, cloud-native Banking-as-a-Service platform that leads the way in Banking as a Service in MENA, designed to empower banks, fintechs, and even non-financial players to build and scale digital services quickly and securely, without starting from scratch.
We launched in 2021, with a vision to lead fintech innovation in emerging markets and close the financial inclusion gap – starting with Africa, the Middle East, and Eastern Europe. But we quickly realized: even mature financial markets are stuck with outdated infrastructure. That’s where we come in-with a clean, API-first banking platform that doesn’t require tearing everything down. Just plug in and innovate.
Egypt has been a focus market for BKN301. Why?
Because Egypt shows what happens when digital meets demand. Through our partnership with Damen Cash, our infrastructure supports 18 million users every single day, accelerating digital banking transformation in Egypt. That’s not theory – that’s impact. We’re replicating that success across the MENA region, where we see the same hunger for tech-enabled inclusion. In Saudi Arabia, the fintech wave is backed by Vision 2030 and a young, mobile-first population. In Qatar, digital transformation is a national priority. These are countries building tomorrow’s financial DNA – and we’re proud to help shape it.
What are the biggest challenges in expanding to new markets?
Regulation in financial services is complex, but the real challenge is cultural. To succeed, you need to understand not just the rules, but how people live – what earns their trust, what makes them feel in control. That’s why we take a local-first approach: we build real relationships on the ground, with regulators and communities alike. You can’t innovate for a market unless you’re in it. It’s not a checkbox; it’s a mindset.
Let’s talk products. What makes BKN301 different?
Three things define our modular fintech infrastructure: modularity, speed, and flexibility. Our BaaS Orchestrator combines core banking, open banking, payments, embedded finance, and AI-all through a single, API-driven platform. But it’s not a “take it all or leave it” setup. Clients choose only what they need. SaaS-style. Plug and play. That means faster time-to-market, lower cost, and no heavy IT lifting.
We’re also investing in AI and data infrastructure, building predictive tools and real-time personalization engines. Because innovation isn’t just about launching products – it’s about anticipating needs.
What does digital transformation really mean for banks in the region?
It means freeing yourself from legacy. Too many banks are stuck spending months and millions just to test a new feature. We change that. Our platform integrates seamlessly with existing systems, slashing time and complexity. It’s about giving banks and fintechs the speed of a startup, with the reliability of an enterprise.
The demand is there – especially in MENA. We’re seeing a massive appetite for faster, smarter digital services, and we’re helping institutions deliver them, securely and at scale.
Your strategic priorities for 2025?
Scale with purpose. Thanks to our EUR18.6M Series B, we’re doubling down on product development and regional expansion. In Europe, we’re growing through strategic partnerships – like our integration with HYPE in Italy. In MENA, we’re expanding our footprint across new markets.
But we’re not just chasing growth – we’re chasing impact. Our model is lean, agile, and built to empower ecosystems.
How do you work with regulators?
We see them as allies. In many MENA countries, regulators are progressive and visionary. That aligns perfectly with our mission. We’re not here to disrupt for the sake of it – we’re here to co-create the future of finance. With the right frameworks, there’s no need for friction. Just the freedom to build what’s next.
What trends are shaping your strategy?
Embedded finance is huge. So is AI, open finance, and cross-border payments – especially in high-remittance regions. But beyond trends, we look for signals. Where are people underserved? Where are systems rigid?
That’s where we go.
The shift toward modular, cloud-native infrastructure is only accelerating. Institutions don’t want monoliths – they want flexibility. That’s where we lead.
How do you see the next five years for BKN301?
Full speed ahead. We’ll scale globally through a mix of organic growth and acquisitions. But our long-term vision stays the same: eliminate friction, empower builders, and create a global, composable infrastructure for financial services.
We believe the next five years will redefine who gets to innovate in finance – and we’re building the rails to make that possible.
Can MENA surpass Europe in fintech innovation?
In many ways, it already is. Europe built great products on outdated pipes. MENA is leapfrogging that – building new, from the ground up, with modern infrastructure. Just look at the numbers: fintech investment in the region grew 650% from 2020 to 2023. This isn’t catch-up; it’s leadership.
Your final message to investors and global companies looking at the MENA fintech scene?
Think agility, not legacy. The future belongs to those who move fast, scale lean, and adapt in real-time. That’s what MENA is doing. And with AI becoming a core engine of business transformation, this shift isn’t temporary – it’s structural.
This is the moment to build things that matter, and we’re ready to lead that charge.
