Flanks Secures €14M Funding to Revolutionize Wealth Management Automation Across Europe

Flanks Secures €14M Funding to Revolutionize Wealth Management Automation Across Europe

Flanks, a cutting-edge FinTech based in Barcelona, specializes in wealth management automation and has recently raised €14 million in an equity funding round to fuel its growth across Europe. This significant investment will enhance its data-driven platform designed to simplify wealth management for financial institutions.

Funding Round Led by Prominent Investors

The latest funding round was spearheaded by Motive Ventures, with notable participation from Battery Ventures, along with existing investors such as Earlybird, JME Ventures, and 4Founders Capital. This bolstered support highlights the growing confidence in Flanks’ innovative approach to wealth management.

About Flanks and Its Innovative Solutions

Founded in 2019, Flanks offers a unique wealth management platform that automatically collects and consolidates high-quality data into customized, comprehensive wealth reports. The new capital will enable Flanks to:

  • Expand its product offerings, including order execution.
  • Introduce automated investment proposals.

Growth and Market Expansion

Since its previous funding round, Flanks has experienced remarkable growth, successfully entering markets in France and the UK while focusing on enterprise clients. Currently, the platform processes over 500,000 portfolios monthly and accommodates both structured and unstructured data, including non-financial assets. More than 100 banks, advisors, and financial institutions leverage Flanks’ services, managing portfolios totaling over €37.1 billion.

Leadership Insights

Joaquim de la Cruz, CEO and co-founder of Flanks, stated, “This fundraise demonstrates the trajectory of Flanks and the progress the company has made since inception. Data is the foundation of the wealth management industry’s transformation.” He emphasized the need for solutions that go beyond mere data visualization to address deeper challenges in data aggregation, ensuring a comprehensive view of client portfolios.

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Future Prospects in Wealth Management

Ramin Niroumand, head of Motive Ventures, praised Flanks for addressing a significant challenge in wealth management through automation. “Flanks is well-positioned to lead the next phase of growth in the industry by enhancing how data is utilized to provide superior financial advice,” he noted.

For more information about Flanks and its innovative solutions in wealth management automation, visit their official site.

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