B2B WealthTech Flanks scores €2.3m in funding

Flanks, a B2B WealthTech platform aimed at improving investor management capabilities, has reportedly scored €2.3m in a funding round.

JME Ventures and SeedRocket 4Founders Capital served as the lead investors, according to a report from Capital Riesgo. Also joining the round was angel investor group Lanai Partners.

The FinTech company, which was founded by former Banco Santander International CEO Álvaro Morales, helps financial advisors, fund managers, private banks and family offices to improve their investor management.

Its technology is based around data extraction engine that leverages advanced scraping techniques, such as reverse engineering. The information is then consolidated into dashboard to help understand the investor’s activity.

Its services are live in Spain, Andorra, Portugal, Switzerland, Luxembourg and the US. With the fresh funding, Flanks hopes to continue growing its international presence, with a focus on the UK, Germany and Mexico. To aid this growth, the FinTech hopes to triple the size of its team.

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