# Yapily Financial Model API infrastructure platform enabling businesses to connect to banks and embed open banking / open finance capabilities. - Canonical: https://finamodel.com/startups/yapily - Excel download: https://finamodel.com/startup-models/yapily.xlsx - Category: Fintech - Model type: SaaS ARR / Valuation - Funding round: Series B - Funding: $13M - Founded: 2020 - Geography: Headquartered UK; live in major European markets as of July 2021; expansion roadmap to global regulatory-led markets by 2022 [DECK, slide 11]. - Customer: B2B2C ## About the company Yapily is an API infrastructure platform that lets businesses connect to banks and embed open-banking and open-finance capabilities. It offers a unified layer for financial data access and payment initiation across fragmented bank integrations. The platform is expected to monetise API access through usage-based pricing, payment transactions, and possible monthly platform commitments. Its customers are businesses building financial products, making successful integration and recurring product usage more valuable than consumer acquisition. The model should forecast client integrations, live end users, data API calls, payment transactions, price per call or payment, and minimum commitments. Bank-connectivity, data, compliance, and support costs should be matched against the relevant usage stream, with retention and expansion tracked by client cohort. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - Single API integration giving customer applications access to thousands of bank APIs across Europe and beyond. - Positioned at layer 1 (Infrastructure) of the open banking value chain - not competing with its customers. - Two core capabilities: data access (account/transaction data) and account-to-account payments (via open banking rails). - Key customers shown: American Express, Intuit, Vivid, Volt; AmEx "Pay with Bank Transfer" cited as live deployment. - Value prop: secure, low-cost, instant A2A payments; replace card network rails with open banking infrastructure. ## Market - "Over 50 countries will have Open Banking by 2023" - framing of global regulatory-driven TAM. - No TAM/SAM/SOM dollar figures stated in the deck. - Macro tailwind: open finance expected to expand to pensions and insurance data by 2024–2025. - Open banking API volumes described as growing exponentially Jul-20 → Jul-21 (bar chart shown, Y-axis unlabelled - no absolute volume numbers extractable). ## Revenue model - API-as-a-Service: customers pay for access to Yapily's unified open banking API. - Likely usage-based (API call volume / payment transaction volume) plus potential monthly platform fee - standard for this category. Pricing structure not disclosed in deck; typical open banking infrastructure pricing is tiered by API calls or payment transactions. ## Traction & metrics - Payment volumes growing exponentially Jul-20 → Jul-21 per bar chart; no absolute numbers on Y-axis. - Yellow bars (Jul-20 → Mar-21) appear to represent data API calls; blue bars (Apr-21 → Jul-21) represent payment API calls accelerating sharply - visual inflection point clear but no numeric axis labels. - Named enterprise clients: American Express, Intuit, Vivid, Volt. - No revenue figures, customer count, ARR, or growth rates stated anywhere in the deck. ## Competition / moat - Moat framing: "true technology enabler, invisible behind the scenes; we power our customers, we don't compete with them". - Infrastructure position (layer 1) vs. tools and applications layers above - differentiation by not building end-user products. - PSD2-compliant coverage cited as foundation; 100% PSD2 coverage claim. - Named competitors not mentioned; implicit competition with Truelayer, Tink, Plaid (not named). - Geographic moat: live in major European markets before most global competitors; roadmap to be first-mover in regulatory-led global markets. ## Team & funding ask / use of funds - Founders / leadership: Stefano Vaccino (Founder & CEO), Martin Threakall (COO), Iain McDougall (CCO), Joao Martins (CTO), plus 8 additional heads. - Prior employer backgrounds listed: Goldman Sachs, Modulr, Currencycloud, Stripe, Google, Revolut, FCA, Accenture, eToro. - Existing investors: LocalGlobe, Lakestar, HV Capital. - Use of funds: not explicitly stated; product roadmap (slide 10) implies investment in geographic coverage, value-added services, and UX/API-first design. ## Recommended financial model - **Archetype + why:** Usage-based / API transaction volume SaaS model. Revenue is driven by API call volume (data) and payment transaction count/value, not by seat count. Closest analogy: Stripe / Plaid infrastructure - a blended usage + platform fee structure. A 3-statement operating model should sit underneath, but the top-line driver is volume × price-per-call / payment. - **Forecast horizon & granularity:** 5 years (2021–2026), monthly for Year 1–2, quarterly for Year 3–5. Align with geographic rollout milestones (UK/EU live → Global 2022+). - **Key drivers & assumptions:** - API call volume (data) - monthly, by geography start from rough market-size inference; no deck number - Payment transaction volume - monthly; data-to-payments volume ratio ~80/20 in 2021, shifting to 60/40 by 2023 as payments monetize better - Blended revenue per API call / per payment transaction £0.005–0.02 per data call; 0.05–0.10% of payment value - industry benchmarks; Yapily pricing not disclosed - Platform / monthly base fee per customer £500–£2,000/month per enterprise; not in deck - Number of active customers low double digits at Series B stage, growing 2–3x/year; not in deck - Geographic expansion multiplier: EU coverage live → global regulatory markets from 2022 - drives addressable bank count and customer acquisition - Gross margin ~70–80% at scale; infrastructure API businesses carry low COGS once built; not in deck - Headcount and opex scale with engineering and geographic expansion; not in deck - Churn / net revenue retention enterprise B2B infrastructure - low churn (<5% annual), NRR likely >110% as customers scale volume; not in deck - **Scenarios (Base / Bull / Bear - which variables flex):** - Base: current EU trajectory holds; payments volume ramps 3x/year; global entry by 2023 - Bull: AmEx-style enterprise logos accelerate payments volume; global entry ahead of schedule; open finance data streams add revenue from 2024 - Bear: Open banking adoption slower than forecast; pricing pressure from Truelayer/Tink; geographic delays - **Required sheets / outputs:** - Assumptions (all drivers above, toggled by scenario) - Revenue build: volume × price by geography and product line (data vs. payments) - Customer count and cohort revenue - P&L (gross profit, opex by function, EBITDA) - Headcount plan - Cash flow and runway - Dashboard: API volume, revenue, gross margin %, customer count, NRR ## Frequently asked questions ### Is the Yapily financial model free? Yes. The Yapily model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.