Finleap Connect, a company formed from the merger of three fintech companies in the Dach countries, has raised €22 million as part of a push to create a pan-European Open Banking platform.
The Series A round is led by SBI Investment, along with participation from Ilavska Vuillermoz Capital, a Luxembourg-based fintech investor.
Finleap connect was founded in 2019 from the merger of fintech platforms figo, finreach solutions and infinitec solutions. The combined company employs more than 150 people at five different European locations and claims some 360 clients.
Finleap's Open Banking platform enables users to connect to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month and providing data-driven insights on customers transactional behaviours.
The firm intends to use the funds to expand beyond the German-speaking member states with an initial focus on Spain and Portugal.
"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-caliber investors is a key milestone as we realize our vision to generate a pan-European banking platform."