Finleap Connect acquires Spanish competitor

This is the first time the Berlin-based fintech has acquired another company. The necessary growth capital comes from Claret Capital from London.

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

Finleap Connect was formed in 2019 after a merger of startup Figo and fintech platform Finreach Solutions under the Finleap umbrella. Just in June, the Berlin-based company raised €22 million from investors (Startbase reported). Finleap Connect's software platform offers its customers access to data from banks and other financial service providers, which they can enrich and prepare with analysis and data tools. After the funding round in June, Finance Forward valued the company at €100 million to €150 million. That valuation is now likely to have risen sharply. For the buyout, Finleap Connect received growth capital from London-based backer Claret Capital.

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