Five Degrees, the Icelandic / Dutch Fintech startup, recently announced a €10m funding round from new investors Karmijn Kapitaal. Previous investors 5square and Velocity Capital (also an investor in Meniga) also participated.

“For us, Karmijn Kapitaal is more than just a new shareholder. Their investment is a sign of trust in our belief that delivering top technology is about people and creating an environment that is about unconventional thinking brought to perfection,” Martijn Hohman, CEO of Five Degrees said in a statement.

The company’s connection to Iceland (and the reason we’re writing about it) is deep. The CTO, and only listed co-founder in the management team, is Björn Hólmþórsson, and the company has offices in Iceland.

According to a statement, this new capital will allow Five Degrees to focus on product development and international expansion. The company develops the banking platform Matrix, which they say “offers an agile customer centric architecture that supports banking operations in a future proof manner, ready for the bank 3.0 paradigm where real, virtual and social meet.”