The capital support from the Luxembourgisch investor is set to help Berlin-based finleap connect expand into international markets and increase their product portfolio.
Photo: finleap connect team / Image Credits: finleap connect
The Berlin-based Fintech operates digital solutions for financial transactions, data analytics and customer services, through an open banking platform: finX API.
The round was led by SBI Investment, a Japanese VC, together with other existing investors.
The Fintech is regulated under the German Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG). It operates 6 offices in Europe – Hamburg, Frankfurt, Berlin, Milan, Madrid and Paris – and employs 160 people.
European expansion and portfolio extension
The funding will help finleap connect to set up a pan-European banking platform and to extend its product portfolio.
finleap connect was launched in 2019 from the merger of fintech platforms figo, finreach solutions and infinitec solutions. Its open banking platform enables connections to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month.
Founded in 2019, Ilavska Vuillermoz Capital invests in companies specialized in financial services, insurance, information technology, defence, construction or hospitality.
Georges Bock, a former managing partner of KPMG Luxembourg, member of startup boards and CEO of invesTRe has been recently appointed Partner by the company.
On 17 June, Luxembourg’s regulator Commission de Surveillance du Secteur Financier (CSSF) published a warning regarding IVC’s alternative investment management activities.
The company replied in a document saying that “To ensure that we are as transparent as possible, we have contacted our network to notify them of the warning. We will keep them and the CSSF informed of all developments”.