Germany's finleap connect has acquired Spanish Open Banking platform MyValue Solutions.
Formed from the merger of three fintech companies in the Dach countries, finleap connect in June raised €22 million as part of a push to create a pan-European Open Banking platform.
Finleap's technology 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.
MyValue Solutions marks the company's first acquisition, supported by growth capital from Claret Capital.
Starting as a consumer facing app, MyValue Solutions has established itself as a specialist in banking aggregation and categoriation for individuals as well as companies. Founded in 2019 and headquarted in Madird, the 23-person strong company offers modular white-label packages for both personal financial management and business finance management.
Piggybacking off finleap connect's PSD2 licence, MyValue Solutions’ technologies, services and products will now be accessible not only to regulated financial institutions, but to new verticals like fintechs, insurance and retail companies, effectively quadrupling its target market.