Devengo, a Spanish FinTech specialising in account-to-account (A2A) payment infrastructure, has closed a pre-Series A funding round worth €2 million, combining debt and equity, to offer multi-sector infrastructure for instant payments.
The round features participation from Bankinter, Demium, and Banco Sabadell as lead investors, alongside continued support from existing partners such as TheVentureCity, Wayra – the corporate venture capital division of Telefónica – and Business Angels.
“The entry of banks into Devengo’s capital structure is a clear signal of the strength of our value proposition and reinforces the solidity of our capital structure,” explains Fernando Cabello-Astolfi, CEO and co-founder of Devengo.
This funding round comes amid a broader wave of European activity in account-to-account and payment infrastructure ventures.
In early 2025, Open Payments (Sweden) raised €3 million to expand its B2B integration platform, while Payrails (Germany) closed €27.7 million to accelerate product innovation and commercial growth across EMEA. In the same period, Two (Norway) secured €13 million to scale its B2B payments offering, and UK-based players Navro and Yaspa attracted €36 million and €10.1 million respectively for global and regulated-sector payments solutions.
While Devengo’s round is comparatively modest, it highlights the emergence of Spain-based players in a segment largely dominated by Northern European FinTechs.
With the EU Instant Payments Regulation (IPR) fostering regulatory momentum for real-time euro transfers, the company’s focus on direct Iberpay connectivity and API-first design positions it within a Europe-wide trend of modernising payment infrastructure and enabling instant, programmable transactions across the SEPA zone.
Andrés Dancausa, General Partner at TheVentureCity, added: “Devengo has everything it takes to lead instant account-to-account paymentsin the SEPA zone and become a key player in the modernisation of European payment infrastructure.”
Founded in 2020, DEVENGO is focused on account-to-account (A2A) payment infrastructure, offering instant payment solutions for multiple sectors. With its direct connection to Iberpay and API-first architecture, Devengo enables automatic, instant, programmable, and intelligent payments for companies looking to optimise their payment processes, reduce operational costs, and improve their value proposition.
The FinTech says they stand out for their pioneering model of direct technical connection with the Iberpay clearing house, reportedly eliminating dependence on traditional banking intermediaries and offering greater efficiency and control over payment operations.
Its direct access to the national payment system, combined with specialised regulatory knowledge, enables a differentiated value proposition in terms of speed, security, and scalability.
“Their API-first approach, their understanding of modern businesses’ needs, and their execution capabilities position them as a natural partner to build the future of instant payments,” added Dancausa.
The funding will allow Devengo to accelerate its geographic expansion across the SEPA zone (Single European Payments Area) and strengthen its position amid growing demand for instant payments in Europe.
Additionally, the company plans to incorporate next-generation payment protocols early on, such as Request to Pay and instant international transfers, anticipating regulatory and technological trends in the European payments ecosystem.
EU-Startups previously mentioned Devengo in its coverage of the We Make Future 2024 startup competition, where the company was listed among participating startups, but this is the first time its funding activity has been reported in detail.
Read the orginal article: https://www.eu-startups.com/2025/11/madrids-devengo-raises-e2-million-as-eu-instant-payments-regulation-accelerates-a2a-innovation/
