Barcelona-based Flanks, a FinTech platform focused on wealth management and informing investment and risk management decisions, today announces a €14 million equity round to accelerate the company’s growth into Europe.
The round was led by Motive Ventures, joined by Battery Ventures and existing investors Earlybird, JME Ventures, and 4Founders Capital.
“This fundraise demonstrates the trajectory of Flanks and the progress the company has made since inception,” said Joaquim de la Cruz, CEO and Co-founder of Flanks. “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.”
Flanks was founded in 2019 by Joaquim de la Cruz, former Global Head of Santander Private Banking Álvaro Morales, and software engineer Sergi Lao, under a shared vision to improve efficiency, transparency, and client relationships in wealth management.
The founders’ goal is to digitise and scale the industry by empowering advisors to elevate their services in anticipation of tailwinds such as the generational wealth transfer and regulation of PSD3.
Since its inception, Flanks (AISP regulated by Bank of Spain) has evolved from a wealth data aggregation solution into Flanks LUME – an end-to-end platform that combines technology and automation into actionable workflows.
The platform aggregates, reconciles, and enriches data across all asset classes from both public and private markets globally, providing actionable insights. Leveraging this data infrastructure, Flanks LUME improves workflows through automation and intelligence across the wealth management value chain, offering 360º client reporting, portfolio insights, and custom projections.
The company plans to expand its offering to include order execution and automated investment proposals.
“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,” said Ramin Niroumand, Head of Motive Ventures.
Following its last funding round, Flanks has successfully expanded into new geographies such as France and the UK, and moved up-market into the enterprise segment.
The company now processes more than 500k portfolios per month, and can handle both structured and unstructured data, including non-financial assets. Over 100 banks, advisors and large financial institutions use the company’s solutions, managing portfolios worth more than €37.1 billion through their platform.
“In contrast to the rapid technological advances we’ve seen in financial services across lending, payments and insurance, wealth management has remained a massive traditional sector that is, as of yet, largely underserved by modern technology,” said Shiran Shalev, Partner at Battery Ventures. “Flanks is doing the hard work of creating critical, modern data infrastructure and software the industry needs to enable the next phase of growth for European asset and wealth managers.”
The company has grown to over 75 employees globally since 2019, bringing together expertise from leading financial institutions and fast-growing unicorns in Europe.
Read the orginal article: https://www.eu-startups.com/2025/02/flanks-raises-e14-million-to-automate-wealth-management-for-next-gen-advisory/
