finleap connect secures €22 million in Series A from SBI Investment

By Megha Bhattacharya

finleap connect, an open banking platform in the DACH region, has raised €22 million in its first funding round since its merger in 2019. The Series A round is led by SBI Investment, along with participation from Ilavska Vuillermoz Capital, a Luxembourg-based FinTech investor. The funding is expected to boost the company’s planned international expansion and extension of the product portfolio.

“The consistent development of our market-leading product portfolio in the DACH region has created a strong foundation for us and our 360 customers. With the new funding, we are ideally positioned to expand across Europe” explains Frank Kebsch, CEO of finleap connect. He welcomes the outcome of the funding round and the commitment of the investors to the implementation of the shared goals: “This funding round and the participation of the new high-caliber investors is a key milestone as we realize our vision to generate a pan-European banking platform.”

finleap connect’s full-stack platform enables its partners to connect to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month. Beyond connectivity, finleap connect’s market-leading Account Switch Kit has enabled the switch of close to 6 million direct debits from one bank to another since launch.

Yoshitaka Kitao, Representative Director & Chairman of SBI Investment, added: “The open banking revolution continues to reshape entire industries, reinventing the customer experience with enriched financial transaction data. We are thrilled to support finleap connect as the company builds on its leadership in DACH to expand across Europe with a differentiated “full stack” platform, enabling enterprises of all sizes to participate in the revolution”.