Airbank, a financial management and account aggregation platform for businesses that launched last year, raised $20 million in a funding round led by Molten Ventures.
The Series A round also included participation from business angels Bruce Wallace of Brex, Guillaume Cabane of HyperGrowth Partners and Cris Conde, alongside existing investors New Wave, Speedinvest and Entrepreneur First.
Airbank’s software provides businesses with a financial management toolkit, helping to track cash flow and automate payments, manage expenses and speed up accounting. Airbank currently integrates with over 2,000 banks and allows the user to consolidate multiple accounts in one place.
In just six months after its launch, Airbank has seen more than 1.5 billion euros in annualized transactions pass through its platform.
“We rely heavily on fully automating financial management,” says co-founder and CEO Christopher Zemina. “We free clients from the worries of mundane financial tasks, so they can focus on growing their business.”
He says the new capital will be used by the startup to grow its 40-person team, invest in product and technical developments, and expand into new markets.
“An undeniable ingredient of our growth has been the ability to hire members from around the world and give them options as to how and where they want to work,” continues Zemina. “Having created three European hubs – in Berlin, Barcelona and Vienna – we want to expand our teams in these hubs and expand into different hubs in Europe and beyond.”