What figo does

Figo is a banking service provider headquartered in Hamburg, Germany, founded in 2012. Per canonical firmographic classification, the company operated with a small team of 11–50 employees and maintained a direct web presence at figo.io (the domain currently serves a default nginx page, signaling dormancy or post-acquisition repurposing). The company's product surface, as inferred from its investor profile and category placement, centered on banking infrastructure or banking-as-a-service functionality targeting financial institutions and fintech consumers — though specific product details are not disclosed in the available source material.

The company built its capital base through six funding rounds between December 2012 and June 2017, raising approximately $26.3M in total. Investors included HTGF (High-Tech Gründerfonds) at the seed and Series A stages, Berliner Volksbank Ventures and DB1 Ventures at Series B, and a strategic $7.2M investment from Deutsche Börse in November 2016 — the latter signaling institutional validation within the European financial infrastructure landscape. Leadership comprised Cornelia Schwertner as Chief Revenue Officer and Sebastian Tiesler as Head of Go to Market, consistent with a B2B commercial-stage fintech.

Important data conflict note: a substantial portion of the aggregated source material describes a US-headquartered pet insurance company also operating under the "Figo" brand, with coverage across all 50 U.S. states. That content (MarketWatch Guides pricing rankings, WSJ recognition, Consumer Reports survey inclusion, U.S. News & World Report citations) is attributed in the input to the same company name but conflicts fundamentally with the firmographic identification of figo as a Hamburg-based banking service. The pet insurance material has been excluded from this analysis as it is treated as relating to a distinct entity; readers requiring a full data dump on the pet insurance brand should consult the raw aggregated sources directly.

Name

figo

Website

https://figo.io

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Figo is a Hamburg, Germany-based banking service provider founded in 2012, operating with 11–50 employees. The company raised approximately $26.3M across six funding rounds from 2012–2017, with strategic backing from Deutsche Börse.

Ownership category

akta.pro rank

Headquarters

HQ city

Hamburg

HQ country

Germany

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Pet Insurance Premiums: Figo generates revenue through monthly pet insurance premiums charged to policyholders. The company offers accident and illness coverage plans with pricing varying by pet type (dog vs. cat), age, breed, and geographic location.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels1 record

Core offering

figo is a private banking service provider headquartered in Hamburg, Germany, founded in 2012. The company operates in the financial technology sector with a team of 11-50 employees, delivering banking-related services to clients within the German and European fintech ecosystem.

Product overview

Figo operates as a pet insurance provider offering accident and illness coverage for dogs and cats across multiple U.S. states. The product portfolio consists of a core pet insurance product with various coverage tiers, with the company positioning itself as an affordable option in the competitive pet insurance market. Figo competes against major providers including Pets Best, Lemonade, Spot, Embrace, ASPCA, Trupanion, and Fetch. The company offers reimbursement-based coverage with customizable deductibles and reimbursement rates, and provides multi-pet discount options for households with multiple pets.

Differentiator

Problem solved

Functional benefit

Products and services

• Banking Services Core banking services delivered as a service provider based in Hamburg, Germany, operating within the financial technology sector and serving financial institutions and fintech clients.

Quantifiable outcome

• Average premium of $22/month nationally, compared to $46 average
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Europe Pet Insurance Market PlayersminorOthers · 6 April 2026Figo is identified as one of the key market players in the Europe Pet Insurance Market in a market research report by Worldwide Market Reports, alongside established players including Petplan, Agria, Petcover, Animal Friends, Bought By Many, Direct Line Group, Allianz, More Than, Embrace, Petsecure, and Trupanion. This is a market positioning acknowledgment rather than an active partnership.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Plaid: Plaid is a US-headquartered banking data connectivity platform offering APIs for bank account linking, transaction data, and identity verification. It is directly comparable to figo's core proposition of providing developers with infrastructure to access bank account data and build financial applications on top.
• Tink: Tink is a European open banking platform owned by Visa, providing PSD2-compliant bank connectivity, account aggregation, and payment initiation services across the EU. It is the most direct European peer to figo, operating in the same geography with overlapping open-banking API offerings.
• Finicity: Finicity (acquired by Mastercard) provides bank account data aggregation, verification, and financial insights APIs. It is comparable to figo as a developer-focused banking connectivity platform enabling fintech applications to access consumer financial data.
• TrueLayer: TrueLayer is a UK-based open banking platform offering account information and payment initiation APIs across Europe. It directly competes with figo's value proposition of standardized bank connectivity infrastructure for developers and fintechs.
• Yapily: Yapily is a London-based open banking API platform providing bank connectivity across Europe under PSD2. It is comparable to figo as a connectivity-layer competitor serving fintechs and enterprises building on top of European banking infrastructure.
• Salt Edge: Salt Edge is a fintech company providing open banking APIs, account aggregation, and PSD2 compliance solutions across Europe and globally. It overlaps with figo's banking data aggregation and connectivity services for financial institutions and fintech developers.

Broad incumbents

• Deutsche Börse: Deutsche Börse, the German stock exchange operator and a known figo investor, is a broad financial market infrastructure incumbent. While not a direct banking API competitor, it is relevant as a strategic investor and partner that operates in adjacent capital-markets and post-trade infrastructure.
• Finleap: Finleap is a Berlin-based fintech platform builder and venture studio that has incubated and acquired multiple European fintechs. It is comparable to figo's ecosystem context as a German fintech builder operating adjacent banking and finance infrastructure plays.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/figoapi
• Facebookfacebook.com/figoAPI
• LinkedInlinkedin.com/company/figo-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds6 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about figo