Flanks Secures €14M Funding to Expand Wealth Management Platform
Deal News | Feb 26, 2025 | Battery Ventures
Flanks, a Barcelona-based startup founded by Joaquim de la Cruz and Álvaro Morales, has raised €14 million in a funding round to expand its data aggregation platform for wealth managers. The round was led by Motive Ventures, with participation from Battery Ventures, Earlybird, JME Ventures, and 4Founders Capital. Flanks' platform enables financial advisors to access consolidated data from various financial institutions, enhancing their ability to offer personalized advice. The company is poised to benefit from upcoming EU regulations, such as PSD3 and the Retail Investment Strategy, mandating greater transparency and data sharing in financial advising. Currently operational in 15 countries and connecting with over 350 financial institutions, Flanks plans to aggressively expand into the UK, German, and Nordic markets.
Sectors
- Financial Technology
- Wealth Management
Geography
- Europe – Flanks is based in Barcelona and operates primarily in European markets, with plans to expand further in the region.
- Spain – As a Barcelona-based startup, Flanks has significant operations in Spain.
Industry
- Financial Technology – Flanks operates in the financial technology sector, providing data aggregation services to wealth managers.
- Wealth Management – Flanks offers services directly to wealth managers, assisting them in consolidating client portfolio data for better advisory services.
Financials
- €14 million – The recent funding amount raised by Flanks in the latest investment round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Flanks | Target Company | Company | A startup offering data aggregation and insights for wealth managers. |
| Joaquim de la Cruz | Founder | Person | Co-founder of Flanks, involved in strategic direction and expansion plans. |
| Álvaro Morales | Founder | Person | Co-founder of Flanks, overseeing operations and regulatory compliance. |
| Motive Ventures | Lead Investor | Company | Led the latest funding round for Flanks. |
| Battery Ventures | Participant Investor | Company | A global, technology-focused investment firm participating in Flanks' funding round. |
| Earlybird | Participant Investor | Company | Venture capital firm involved in Flanks' funding. |
| JME Ventures | Participant Investor | Company | Investment firm that participated in the funding round for Flanks. |
| 4Founders Capital | Participant Investor | Company | Investment firm focused on early-stage ventures, involved in funding Flanks. |