finleap connect, the DACH open banking market leader, raises €22 million in Series A
The Series A round is led by global fintech investor SBI Investment, along with participation from Ilavska Vuillermoz Capital and commitments from existing investors, including finleap.
With €22 million from the new financing round, finleap connect will drive forward its vision of a pan-European open banking platform
Hamburg / Berlin, June 17th, 2021 – finleap connect, the leading open banking platform in the DACH region, has raised €22 million in its first funding round since its merger in 2019. The Series A round is led by the global fintech powerhouse SBI Investment, along with participation from Ilavska Vuillermoz Capital, a Luxembourg-based fintech investor. Together with existing investors, including finleap, Europe’s leading fintech ecosystem, and Claret Capital, they are laying a strong foundation for finleap connect’s planned international expansion and extension of the product portfolio.
finleap connect was founded in 2019 from the merger of fintech platforms figo, finreach solutions and infinitec solutions. Today, finleap connect employs more than 150 people at five different European locations. With a valuation in the triple-digit million range, the open banking fintech has established itself as the leader in the German-speaking open banking sector only two years since inception.
finleap connect’s full-stack platform enables its partners to connect to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month. Beyond connectivity, finleap connect’s market-leading Account Switch Kit has enabled the seamless switch of close to 6 million direct debits from one bank to another since launch.
Leveraging enterprise-grade open banking connectivity across several European countries, finleap connect has developed unique value-added products on top of its open banking platform. These data-driven offerings enable customers to analyze transactional data, integrate insights with their end-customer interactions and easily embed financial services.
The focus of finleap connect’s future strategy is to enable a rapid roll-out of its entire product portfolio to other European markets. This will involve expanding connectivity across Europe with a special focus on Spain and Portugal, supporting the international growth of its customers. Alongside, finleap connect will further develop its value added services, enhancing the use of financial data and targeting new market segments.
Today, leading European financial institutions, insurance companies and fintechs use finleap connect products. “The consistent development of our market-leading product portfolio in the DACH region has created a strong foundation for us and our 360 customers. With the new funding, we are ideally positioned to expand across Europe” explains Frank Kebsch, CEO of finleap connect. He welcomes the outcome of the funding round and the commitment of the investors to the implementation of the shared goals: “This funding round and the participation of the new high-caliber investors is a key milestone as we realize our vision to generate a pan-European banking platform.”
Yoshitaka Kitao, Representative Director & Chairman of SBI Investment, added: “The open banking revolution continues to reshape entire industries, reinventing the customer experience with enriched financial transaction data. We are thrilled to support finleap connect as the company builds on its leadership in DACH to expand across Europe with a differentiated “full stack” platform, enabling enterprises of all sizes to participate in the revolution”.
About finleap connect
finleap connect addresses the fragmented open banking landscape with a “full-stack” platform. It enables partners to access financial transactions, enrich the transactions with data & analytics tools, and ultimately deliver seamless digitized financial services to customers. finleap connect has the unique ability to tap into category leaders founded in the finleap ecosystem, including Solarisbank, ELEMENT and Elinvar, driving additional value to partners.
The company is a regulated payment institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG) with offices in Berlin, Hamburg, Milan, Madrid and Paris. finleap connect is part of the leading European fintech ecosystem, a group with 1,300 employees from more than 80 countries. More information about finleap connect is available at www.connect.finleap.com.
About SBI Investment
SBI Investment is one of Japan’s leading venture capital firms, focusing on the creation and cultivation of key industries for the 21st century. SBI’s investment portfolio has expanded to include core technologies such as 5G, IoT, big data and open banking.
About Investor Ilavska Vuillermoz Capital
Ilavska Vuillermoz Capital is a Luxembourg based investment company founded in 2019.
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