{"id":44244,"date":"2019-05-06T00:00:00","date_gmt":"2019-05-05T22:00:00","guid":{"rendered":"https:\/\/techma.bakertilly.es\/fintonic-ronda-19millonesdeeuros\/"},"modified":"2025-03-12T11:46:30","modified_gmt":"2025-03-12T10:46:30","slug":"fintonic-ronda-19millonesdeeuros","status":"publish","type":"post","link":"https:\/\/techma.bakertilly.es\/en\/fintonic-ronda-19millonesdeeuros\/","title":{"rendered":"Fintonic raises \u20ac19M and reaches \u20ac160M valuation"},"content":{"rendered":"

The Madrid-based Fintonic has recently received a round of funding of 19 million<\/strong> of euros. Thanks to its application, any user can manage their savings through their mobile phone, being totally independent from the institutions.<\/p>\n

At a more general level, we have analysed the mobile banking sector with the transactions of selling<\/a> most recent.<\/p>\n

Round C Series for Fintonic<\/h2>\n

Fintonic<\/a>based in Madrid and founded in 2012, is dedicated to the development of a online platform<\/strong> from which the user could managing your savings<\/strong>. They are entity-independent, which allows them to offer the most appropriate service for each user, no conflict of interest<\/strong>. They currently have more than 700,000 users who fully trust their application. As a curiosity it is worth mentioning that they won the \"Google Award\" in the field of mobile innovation.<\/p>\n

On 11 April 2019, Fintonic has closed down a financing round <\/strong>C series of 19 million<\/strong>led by ING Ventures, the Venture Capital arm of ING Group. Shareholders of companies such as Previsi\u00f3n Sanitaria Nacional (PSN) have also participated in the injection.<\/p>\n

The proceeds of the funding round will be used to drive Fintonic's growth in Spain and Latin America. The funding comes at a time of tremendous growth for Fintonic, which has increased its active users by 74% in the last 14 months<\/strong>. Part of this growth is due to the success of Fintonic's loan offering, which allows customers to borrow up to EUR 40,000. The company expects to lend over EUR 1 billion in less than three years<\/strong>.<\/p>\n

Selling companies internationally<\/h2>\n

After conducting a study on the selling<\/a> in the mobile banking sector, we would like to mention the following recently confirmed transactions:<\/p>\n

\n

    \n
  1. Penta<\/li>\n<\/ol>\n

    Founded in 2016 and based in Berlin, Penta<\/a> offers a digital bank account aimed at startups and SMEs<\/strong>. Penta is designed to allow business owners to save time and money on banking so they can focus more on their core business.<\/p>\n

    Penta sold to FinTech company Finleap<\/a> on 2 April 2019. The amount of the transaction has not been disclosed at this stage.<\/p>\n

    \n

      \n
    1. Quovo<\/li>\n<\/ol>\n

      Quovo is a data platform that provides companies connectivity and information<\/strong> for millions of consumer financial accounts<\/strong> in more than 14,000 different institutions. Account connectivity is the lifeblood of digital finance. Its APIs, modular applications and enterprise solutions help businesses deepen their customer relationships with a better connection to their financial lives.<\/p>\n

      8 January 2019 Plaid<\/a> made the purchase of Quovo, in a transaction for which the amount is unknown. This has been its only acquisition since its foundation, where we can deduce that it was a strategic transaction<\/strong> by purchasing a competitor's business.<\/p>\n

      \n

        \n
      1. Chillr<\/li>\n<\/ol>\n

        Chillr is an Indian FinTech that simplifies mobile banking and financial transactions<\/strong> for millions of users. It allows users to send money directly between bank accounts using just the mobile phone number<\/strong>. The company works closely with leading banks including HDFC Bank, Bank of Baroda to make payments simple, secure and instant.<\/p>\n

        The Indian company was sold to Truecaller<\/a> on 13 June 2018, for which the financial amounts are unknown. Truecaller is a mobile app that allows you to see who is calling and block unwanted calls.<\/p>\n

        \n

          \n
        1. Malauzai Software<\/li>\n<\/ol>\n

          Malauzai<\/a> was founded in 2009 in responding to the growing demand from technology companies<\/strong> that could provide mobile solutions for financial organisations<\/strong>. Provides consumers or small businesses with employee SmartApps, SmartwebApps and SmartwearApps that enhance the customer experience for mobile and internet banking.<\/p>\n

          On 18 June 2018, we learned of the sale of the company to Finastra, the fourth acquisition deal confirmed by the UK company. Finastra provides a broad portfolio of financial services software.<\/p>\n

          \n

            \n
          1. Every<\/li>\n<\/ol>\n

            Founded in 2017 in Toronto, Every<\/a> is a bank account designed for online business for small businesses.<\/strong><\/p>\n

            On 4 March 2019, we have seen how Every was brought to Wave<\/a>This is their only purchase so far. The financial amounts were not disclosed.<\/p>\n

            \u00abOur modern approach to deposit accounts and card products, combined with Wave's financial products, will help reduce a lot of friction for small business owners,\u00bb said Jeremy Black, CEO of Every, following the transaction.<\/p>","protected":false},"excerpt":{"rendered":"

            Fintonic, a Spanish company, receives a funding round of 19 million euros that values the company at 160 million euros.<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1750],"tags":[155,153,157],"sectores":[],"tipo-contenido":[2260],"class_list":["post-44244","post","type-post","status-publish","format-standard","hentry","category-financiacion-sectorial","tag-corporate-finance-spain","tag-global-corporate-finance","tag-venta-de-empresas","tipo-contenido-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/44244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/comments?post=44244"}],"version-history":[{"count":0,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/44244\/revisions"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=44244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/categories?post=44244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=44244"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=44244"},{"taxonomy":"tipo-contenido","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tipo-contenido?post=44244"}],"curies":[{"name":"well played","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}