Montreal-based data aggregation startup Flinks has raised $11 million in a Series A funding round led by the VC arm of National Bank of Canada.
Intact Ventures, Luge Capital and Panache Ventures joined the round, while National Bank has also provided Flinks with $5.2 million in debt financing.
Flinks connects hundreds of companies with banks in Canada, US and Europe, helping them access customers' account data. The new funding will be used to move into new areas, such as wealth management, as well as new geographies, as the firm takes advantage of the open banking revolution.
Yves-Gabriel Leboeuf, CEO, Flinks, says: "This investment from our strategic partners allows us to jumpstart the next phase of our mission: consolidating our position in our home market and building new innovative data products that will allow us to tackle global demand."
Philippe Daoust, MD, Venture Capital, NAventures, adds: "We see great alignment between Flinks' mission and our own focus on helping our clients manage their finances by providing them with innovative and reliable digital solutions."