What Snowdrop Solutions does

Snowdrop Solutions Ltd is a UK-headquartered B2B fintech founded in 2013 that provides a transaction enrichment API to banks and financial institutions. Its core product is the Merchant Reconciliation System (MRS) API, a REST service built on Google Cloud Platform that transforms raw, ambiguous payment transaction strings into structured merchant profiles — verified names, logos, multi-level categorisation, precise geolocation, merchant contact details, and eco footprint data. The platform processes more than 2.5 billion transactions per month at sub-50ms latency with reported 95%+ match accuracy and 98%+ street-level geolocation precision, and is backed by domain-specific NLP and machine learning models trained on millions of real financial transactions, augmented by human expert review of its proprietary global merchant database covering 100+ territories. The product suite extends beyond the MRS API into standalone Location Data services and GenIE, a contextual banking AI layer intended to power intent-aware digital banking experiences, with Eco Footprint Tracking positioned as an ESG-aligned enrichment module. The company also publishes a developer portal and maintains ISO 27001, SOC 2 Type II, and GDPR compliance certifications.

Snowdrop serves traditional banks, building societies, challenger banks, neobanks, and digital payment providers across Europe, the Middle East, and Asia Pacific. Named customers include Nationwide Building Society, Hanseatic Bank, Kroo Bank, Wirex, and Yonder. The company holds a Google Cloud Premier and Google Maps Premier Partnership (since 2013), is a Visa Europe Fintech Partner (since 2020), and is positioned against Mastercard's AN4569 mandate (effective October 2023 in Europe) and Visa's Enhanced Merchant Data mandate (effective January 2027).

Snowdrop operates an enterprise B2B revenue model with quote-based, usage- or volume-tiered API licensing, typically contracted as multi-year agreements and also procurable via the Google Cloud Marketplace. Distribution combines direct enterprise sales, a developer self-serve motion through the developer portal, and channel distribution through Google and Visa. The company is privately held, has been profitable for over 10 years, and has operated without venture capital backing.

Name

Snowdrop Solutions

Legal name

Snowdrop Solutions Ltd

Website

https://snowdropsolutions.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Snowdrop Solutions is a UK-based B2B fintech providing a transaction enrichment API that transforms raw payment data into structured merchant information — names, logos, categories, locations, and ESG data — for banks, building societies, and fintechs across 100+ territories.

Ownership category

akta.pro rank

Product category

Transaction Enrichment API

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Payment Reconciliation, Reporting & Settlement Infrastructure (FSAGABAH)

Keywords

• Transaction enrichment API
• Merchant data resolution
• Payment data enrichment
• Contextual banking AI
• Location data services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. MRS API — Transaction Enrichment: Snowdrop's primary revenue stream is an API subscription/licensing model where banks and financial institutions integrate the MRS API to enrich transaction data. Pricing is likely usage-based (per transaction or tiered volume) or subscription-based, accessed directly or via Google Cloud Marketplace. Revenue is enterprise B2B, contracted typically as multi-year agreements.
2. Location Data (Google Maps Integration): Location data enrichment services powered by Google Maps Platform, sold as part of the enrichment API package or as a standalone geospatial data service for location-aware banking applications.
3. Contextual Banking AI (GenIE): AI-powered contextual banking intelligence layer built on top of enriched transaction data, delivered as an add-on or embedded feature within the MRS API platform.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Snowdrop Solutions provides a transaction enrichment platform built around the Merchant Reconciliation System (MRS) API, which transforms raw payment transaction data into structured merchant information including verified names, logos, categories, geolocation, contact details, and sustainability data. The platform supports banks, building societies, and fintechs in complying with Mastercard and Visa enhanced merchant data mandates, reducing customer support costs, and powering contextual digital banking experiences. Supporting offerings include Location Data (geospatial enrichment) and GenIE, a contextual banking AI layer.

Product overview

Snowdrop Solutions offers a unified transaction enrichment platform built around the Merchant Reconciliation System (MRS) API. The core Transaction Enrichment solution transforms raw payment data into structured, accurate merchant information. Supporting modules include Merchant Name & Logo Resolution, Transaction Categorisation, Transaction Location (geo-enrichment), Merchant Contact Details, and Eco Footprint Tracking. Location Data provides standalone global geospatial capabilities. Contextual Banking (GenIE) is an AI-powered contextual intelligence layer. All products are delivered via REST API, achieving 95%+ match accuracy across 2.5B+ monthly transactions.

Differentiator

Problem solved

Functional benefit

Brands

• MRS API (Merchant Reconciliation System): Core transaction enrichment API that transforms raw payment data into structured, enriched merchant information including names, logos, categories, locations, and contact details.
• GenIE

Products and services

• Merchant Reconciliation System (MRS) API / Transaction Enrichment

Quantifiable outcome

• 30% reduction in operational support costs
• +9 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability5 records

Feature5 records

Partnerships

Three partnerships are on record, tiered flagship / core and core.

• Visa Europeflagship / coreStrategic or Co-development Partner · 1 January 2020Snowdrop has been a Visa Europe partner since 2020 (Visa Europe Fintech Partner Connect). The partnership enables Snowdrop to co-develop and deliver transaction enrichment solutions with Visa, supporting compliance with Visa's Enhanced Merchant Data mandate (January 2027). Visa and Snowdrop collaborated on the Nationwide Building Society deployment. Snowdrop is backed by Visa as a key technology partner.
• Google (Google Cloud / Google Maps Platform)flagship / coreTechnology or IntegrationSnowdrop is a Google Cloud Premier Partner and Google Maps Premier Partner (since 2013). The MRS API is powered by Google Cloud Platform and integrates deeply with Google Maps Platform's Places API for geolocation enrichment. The solution is available on Google Cloud Marketplace. This partnership provides Snowdrop's underlying infrastructure, geospatial data, and cloud hosting capabilities.
• MastercardcoreStrategic or Co-development PartnerSnowdrop's MRS API helps financial institutions comply with Mastercard's AN4569 mandate (effective October 2023 in Europe), which requires issuers to display enriched merchant data including name, address, phone, website, and logo. Snowdrop provides all required data points plus additional enrichment.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Akoya: Akoya provides secure financial-data-access APIs used by banks to share enriched transaction data with third parties. While focused on data access rather than enrichment per se, it operates in the same European banking data-infrastructure space and competes for adjacent compliance budgets.
• Yapily: Yapily is a European open-banking API platform that aggregates and enriches bank transaction data for fintechs and enterprises. It competes with Snowdrop for European digital banking infrastructure budgets and provides overlapping merchant/categorisation enrichment.
• Tink (Visa): Acquired by Visa, Tink provides open-banking and account-data enrichment across Europe. It serves the same European bank and fintech customers as Snowdrop and overlaps on transaction categorisation and merchant enrichment.
• TrueLayer: TrueLayer provides open-banking payment initiation and financial data APIs to banks and fintechs in Europe and the UK. While broader than Snowdrop, it competes for the same European banking data-infrastructure budgets and offers overlapping transaction-data enrichment capabilities.
• Personetics: Personetics offers AI-driven contextual banking and personalised financial insights built on top of enriched transaction data, comparable to Snowdrop's GenIE contextual banking layer. It targets the same digital banking use cases (engagement, PFM, ESG) and competes for the same bank-IT wallet.

Direct peers

• Plaid: Plaid provides financial data connectivity and transaction enrichment infrastructure used by thousands of banks and fintechs. Its Transactions product normalises and enriches raw bank transaction data with merchant names and categories — a directly comparable offering to Snowdrop's MRS API.
• MX Technologies: MX provides a financial data platform that cleans, categorises, and enriches transaction data for banks, credit unions, and fintechs. Its core offering — turning messy transaction strings into actionable merchant and category data — overlaps directly with Snowdrop's MRS API value proposition.
• Finicity (Mastercard): Finicity, owned by Mastercard, offers transaction data enrichment and financial-data-sharing APIs to banks, lenders, and fintechs. It directly competes with Snowdrop in merchant resolution, categorisation, and digital banking use cases, with Mastercard ownership aligning it closely to the same AN4569 compliance motion.
• Yodlee (Envestnet): Yodlee is one of the largest transaction data aggregation and enrichment platforms serving banks and fintechs globally. Like Snowdrop, it converts raw transaction strings into cleaned merchant, category, and location data to power digital banking experiences and PFM tools.

Broad incumbents

• Fiserv: Fiserv is a global financial-services technology incumbent offering core banking, card services, and digital banking platforms (including transaction data and merchant analytics). Its broad portfolio overlaps with Snowdrop's enrichment API at the digital-banking layer, but it is not specialised in the niche Snowdrop serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/snowdropsolutions
• LinkedInlinkedin.com/company/snowdropsolutions

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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 Snowdrop Solutions