Finleap Connect takes over Spanish competitor

The Berlin-based fintech acquires another company for the first time. The necessary growth capital comes from Claret Capital in London.

The Berlin-based open banking platform Finleap Connect is acquiring its Spanish competitor MyValue Solutions. This is the first acquisition in the fintech company's history. The purchase price is not disclosed. The aim of the acquisition is to drive forward internationalization and gain a foothold on the Iberian Peninsula in particular, according to Finleap Connect. "The technology and innovative minds at MyValue Solutions impressed us from the outset, and we welcome the opportunity to work with the leading financial institutions in the Spanish and Portuguese markets," says Finleap Connect CEO Frank Kebsch.

Finleap Connect was created in 2019 following a merger of the start-up Figo and the fintech platform Finreach Solutions under the Finleap umbrella. The Berlin-based company only raised 22 million euros from investors in June (Startbase reported). The Finleap Connect software platform offers its customers access to data from banks and other financial service providers, which they can enrich and process using analysis and data tools. Following the financing round in June, Finance Forward valued the company at 100 to 150 million euros. This valuation is now likely to have increased significantly. Finleap Connect received growth capital from London-based investor Claret Capital for the acquisition.

MyValue Solutions was founded in 2009 and is the second largest open banking provider on the Iberian market. The 27 employees will be taken over. Finleap Connect is already active in eight European countries.