Wealth management automation platform Flanks raises €14m to expand in Europe

February 26, 2025

Flanks, a Barcelona-based FinTech specialising in wealth management automation, has secured €14m in an equity funding round aimed at accelerating its expansion across Europe.

The investment round was led by Motive Ventures, with participation from Battery Ventures and existing investors Earlybird, JME Ventures, and 4Founders Capital, according to a report from EU-Startups.

Founded in 2019, Flanks provides a data-driven wealth management platform designed to simplify wealth management. Its platform automatically gathers high-quality data and consolidates its into brand-customised 360-degree wealth reports.

The fresh capital will support Flanks in expanding its product offering, including the introduction of order execution and automated investment proposals.

Flanks has seen significant growth since its last funding round, successfully expanding into France and the UK while moving up-market to serve enterprise clients. The company now processes over 500,000 portfolios per month and supports both structured and unstructured data, including non-financial assets. More than 100 banks, advisors, and financial institutions use Flanks’ platform, which manages portfolios worth over €37.1bn.

Flanks CEO and co-founder Joaquim de la Cruz said, “This fundraise demonstrates the trajectory of Flanks and the progress the company has made since inception.

“Data is the foundation of the wealth management industry’s transformation. Many solutions focus on surface-level innovation; emphasising data visualisation without addressing the deeper challenges of data aggregation, or ensuring a 360-degree view of portfolios with high-quality and complete data which can then be delivered effectively to clients. True change in wealth management requires building from the ground up, with data at its core and workflows on top.”

Motive Ventures head Ramin Niroumand added, “Flanks solves a key challenge in wealth management by automating how data is collected and used to provide better financial advice. At Motive, we focus on backing companies like Flanks that are driving real change in the wealth management industry. With their ability to scale advisory services through smarter data use, Flanks is well-positioned to lead the next phase of growth in the industry.”