Helsinki-based startup Apiable has just secured about €479k ($500k) in new funding to scale its no-code API Portals-as-a-Service platform. The startup is aiming to use its platform to enable companies to join the API economy and gain better access to new revenue streams.
Founded in 2020, Apiable was built by a team of former Swisscom API product specialists with the aim of solving the problem of inadequate tools for API management. Simply, put, they want to address the lack of tools for companies that want to invest in the API ecosystem, and make it a more accessible space. Give all organisations the chance to be API-able.
The Helsinki-based team aims to enable companies to open new revenue streams by creating digital connections quickly and without the huge development costs involved.
Now, the startup has secured fresh funding with a €479k ($500k) pre-seed round. It was led by Icebreaker.vc and will be used by the team to scale operations to meet growing demand as organisations recognise the need to create digital versions of their products and services.
Allan Knabe, CEO, Apiable: “CEOs and innovation leaders within organisations understand that in order to survive and thrive they need to create digital versions of their products and services. This means they need to create APIs and make them available on an API portal to attract customers and partners. However, building and maintaining an API portal distracts them from their core business, and finding the development resources is difficult and expensive.”
“With Apiable, we have done this for them and short-circuited the entire process involved in joining the API economy. With the commitment from Icebreaker.vc, we are in a great position to build on the traction we have experienced in the last 12-months.”
By taking a no-code approach, Apiable customers can set up their own branded API portal in less than an hour – meaning they can focus instead on growing their business rather than assigning resources to development (circa €80k).
The platform has been developed alongside Apiable’s first customer, cycling insurance provider Bikmo, to ensure it was being designed with customer feedback and input at every stage, making it as intuitive and user-friendly as possible.
Dave George, CEO, Bikmo: “In our mission to protect the world’s riders and over 70% of our policy sales being triggered by a new bike purchase, having a seamless integration with bike brands and retailers at the point of sale online or in-store is crucial. Apiable has been instrumental in enabling us to provide a suite of API products meaning we can launch with partners quickly and easily. They’ve been easy to work with and will be a long-term part of our platform ecosystem.”
Riku Seppälä, General Partner, Icebreaker.vc: “The Apiable team has deep expertise in building API portals, and we see the need for APIs proliferating through most companies, even ones you couldn’t imagine. We’re thrilled to be supporting Apiable and the digital economy”