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Spanish challenger Bnext banks a further €11 million

Spanish challenger Bnext banks a further €11 million

Spain's first alternative banking app Bnext has raised a further €11 million as an extension to a €22 million Series A financing round secured in October.

Bnext's current investors, among which are DN Capital, Redalpine, Speedinvest, Founders Future, Enern, Digital Horizons, Kreos Capital and Cometa (formerly Variv), have all contributed to the round.

Launched in 2018, Bnext now counts more than 300,000 active users, processing more than 100 million euros in monthly transactions.

Bnext operates in the EU under an E-Money licence, offering users a card and a linked mobile marketplace offering banking products from select partners. The company also provides an account aggregation feature to manage traditional bank accounts from within the app.

The funding has been earmarked for a launch into Spanish-speaking Latin American markets.

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