finleap connect makes its first acquisition with Spanish Open Banking provider MyValue Solutions
- finleap connect reinforces its presence in the Iberian market with the acquisition of Spain’s leading Open Banking provider, MyValue Solutions.
- Combining finleap connect’s PSD2 license with MyValue Solutions’ cutting-edge technology and standing in its market, customers will benefit from the facilitated access to the full portfolio of products and services.
- Claret Capital provides growth capital to support this M&A transaction.
Hamburg and Madrid, July 28, 2021 – finleap connect, the largest independent Open Banking platform in Europe, has acquired MyValue Solutions, the second largest Open Banking company in the Iberian market. Through this first acquisition, finleap connect will benefit from MyValue Solutions bringing in its distinguished technology and significant customer base, including its status as trusted partner for notable financial institutions. Additionally, the acquisition advances finleap connect’s international expansion and reinforces its presence in one of the most relevant European markets with regard to Open Banking.
The acquisition will complement finleap connect’s unique “full-stack” platform, enhancing financial transactions and data & analytics offerings, as MyValue Solutions’ product portfolio includes inter alia account services as well as cutting-edge categorization and enrichment technologies. MyValue Solutions currently provides its services to a vast customer base, including some of the largest financial institutions in the Iberian market. Starting as a consumer facing app, MyValue Solutions has established itself as a specialist in banking aggregation and categorization for individuals as well as companies. It offers modular and intelligent market leading white-label solutions for both Personal Finance Management (PFM) and Business Finance Management (BFM). In this way, MyValue Solutions’ range of products perfectly supplements finleap connect’s portfolio and will also add to its end-customer interaction capabilities.
Founded in 2009 and headquartered in Madrid, MyValue Solutions today is one of the most established Spanish companies in its field. Working with a large number of banks, its market approach and advanced technology distinguish it from its competitors within the Iberian market, making it the trusted partner of acclaimed financial institutions. By virtue of finleap connect’s PSD2 license, MyValue Solutions’ technologies, services and products will now be accessible not only to regulated financial institutions, but to new entire verticals like fintechs, insurance companies, retail companies et al. finleap connect will enable companies in the Iberian market, regulated or not, to provide financial services, like it already does in the DACH region. This will quadruple the target market for MyValue Solutions’ products and create an extended variety of use cases for them. MyValue Solutions’ 27 employees will join the finleap connect organization immediately and support the tech team and distribution of its product portfolio in Spain and Portugal.
Building on the recent Series A round, the acquisition marks finleap connect’s continuing European expansion. Since its market entry in 2019, finleap connect has opened offices in four countries within the European Union and established connectivity and product availability in eight EU countries. Striving to increase international interconnectedness within the financial sector, finleap connect pursues the continuous strengthening of its international branches with a major focus on France, Italy and Spain.
With Spain and Portugal being amongst the most relevant European markets for Open Banking, the acquisition will enable finleap connect to offer a straightforward access to the Iberian market for its client base.
MyValue Solutions CEO, Andrés Romerales
“finleap connect joining forces with us in the Iberian market will further the accessibility of value-added services to our customers in the region. This implies great future prospects for the entire industry”, says Andrés Romerales, Founder & CEO, MyValue Solutions. “Combining our strengths will also unlock the ability to provide tech, retail and other non-financial services to clients, which will enlarge the target market for all of us,” Romerales continues.
finleap connect Managing Director & CEO, Frank Kebsch
“The acquisition of MyValue Solutions is an important step in our continued expansion across Europe. MyValue Solutions’ tech and talent has impressed us since the beginning, and we appreciate the opportunity to cooperate with the leading financial institutions in the Spanish & Portuguese market”, says Frank Kebsch, CEO, finleap connect. “Additionally, we welcome Claret Capital as our trusted partner in this journey, providing us with non-dilutive growth capital to further accelerate our strategic ambitions,” Kebsch adds.
“The opportunity for finleap connect is sizable and will only continue to grow as financial institutions further embed Open Banking solutions into their products and operations. Frank and the finleap connect team have a track record of delivering meaningful value for complex financial institutions with its Open Banking platform, and Claret Capital are delighted to support them on their journey ahead through our growth capital and Series A investments,” says Bryan McLoughlin, Vice President, Claret Capital.
About finleap connect
finleap connect is the leading, independent Open Banking platform provider in Europe. It enables companies across a multitude of industries to provide the next generation of financial services by understanding how customers transact and interact.
With its “full-stack” platform of solutions, finleap connect makes it possible for its clients to compliantly access the financial transactions data of customers, enrich said data with analytics tools, provide digital banking services and deliver high-quality, digital financial services products and services to customers.
finleap connect is a regulated payment institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG), as well as a licensed Third Party Provider (TPP) under the revised Payment Services Directive (PSD2).
The company employs over 160 people from more than 35 countries in its offices in Berlin, Hamburg, Milan, Madrid and Paris.
About MyValue Solutions
MyValue Solutions is the second largest provider of Open Banking solutions in the Spanish market, established as the specialist in banking aggregation and categorization. MyValue Solutions provides its services in countries across Europe.
MyValue was founded in 2009 to design cutting-edge solutions with proprietary technology with the goal to create useful financial products for users from individuals to SMEs. For more information visit www.myvaluesolutions.com
About Claret Capital
Claret Capital (formerly Harbert European Growth Capital) is an investor in growth stage technology companies. Since 2013, Claret has supported over 100 entrepreneurial teams with debt and equity funding to achieve ambitious outcomes. Such investments include Wefox, PPRO, Paysend, Jobandtalent, Lyst, Razor Group and Bellabeat. For more information, visit www.claret-capital.com
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