Finleap Connect raises €22 million

The fintech is only two years old, but already active in several European markets. Now Finleap Connect is raising €22 million. SBI Investment and Ilavska Vuillermozv are joining as investors.

In 2019, Finleap Connect was formed from a merger of startup Figo and fintech platform Finreach Solutions under the Finleap umbrella. Now the fintech announces the closing of a successful funding round: €22 million raised by Finleap Connect. The round is led by SBI Investment, offshoot of the Japanese tech fund Softbank. In addition to existing investors such as Finleap, Luxembourg-based investor Ilavska Vuillermoz is also involved. It invests in fintechs N26 and Penta, and earlier this month participated in the €16 million funding round of insurtech Element.

With the money, Finleap Connect is expanding into other European markets with a focus on Spain and Portugal, aiming to enter new market segments and expand its services. "This funding round and the participation of the new high-profile investors is an important milestone in the implementation of our vision to create a pan-European banking platform," says CEO Frank Kebsch.

Finleap Connect's software platform provides its clients with access to data from banks and other financial services providers, which they can enrich and prepare with analytics and data tools. "We are delighted to support finleap connect as it builds on its leadership in DACH," said Yoshitaka Kitao of SBI Investment. According to official data, the fintech's valuation is now in the triple-digit millions, Finance Forward estimates range from €100 million to €150 million.