Berlin-based finleap connect raises €22M to expand its open banking platform across Europe

Berlin-based finleap connect raises €22M to expand its open banking platform across Europe

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Berlin-based fintech startup finleap connect has raised €22M in its Series A funding round after its merger in 2019. The round was led by SBI Investment — a Japanese VC firm, along with participation from Ilavska Vuillermoz Capital, a Luxembourg-based fintech investor.

With the proceeds, the fintech startup plans to launch new products for the European markets, which will further include expansion of connectivity across Europe with a special focus on Spain and Portugal. Besides that, finleap connect is looking to develop its value-added services, enhancing the use of financial data and targeting new market segments.

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“With the new funding, we are ideally positioned to expand across Europe,” explains Frank Kebsch, CEO of finleap connect. “This funding round and the participation of the new high-calibre investors is a key milestone as we realise our vision to generate a pan-European banking platform.” 

How did it all start?

Founded in 2019, finleap connect was born from the merger of fintech platforms figo, finreach solutions and infinitec solutions. It employs more than 150 people at five different European locations. The company claims to have a valuation in the triple-digit million range. 

Finleap’s full-stack platform enables partners to connect to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month.

By leveraging enterprise-grade open banking connectivity across several European countries, finleap connect claims to have developed unique value-added products on top of its open banking platform. These data-driven offerings enable customers to analyse transactional data, integrate insights with their end-customer interactions and easily embed financial services.

According to the company, finleap connect has the 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.

Expansion Plans

With this fundraise, the fintech startup aims to 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. finleap connect further plans to make a series of new products that will cater to these markets. In addition to this, it is also planning to create more value-added services, increasing the use of financial data and targeting new market segments. finleap connect has offices in Berlin, Hamburg, Milan, Madrid and Paris.

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