The Berlin-based fintech aimed at helping startups and SMB’s better manage their cash, Airbank, has closed a €2.5 million seed round that saw backing from Accel scout Luca Ascani, and Sequoia scout Marc McCabe.
Founded in January of this year by Chris Zemina (former Principal with Speedinvest’s fintech fund) and Patrick de Castro Neuhaus, Airbank is connecting all bank accounts and financial data and putting it in one place. The startup offers startups and SMB’s bank account aggregation, cash flow management, multi-user permissions, and single sign-on capabilities and has high hopes to become the leading finance orchestration platform in Europe.
Now if all of this sounds a bit, ... and? take into account that Airbank is providing real-time cash flow management, as opposed to a traditional mechanism whereby accountants update the books well after a month's end. Airbank isn't alone in this space, as London's CountingUp offers much the same, has raised £15.9 million, and has a four year jump on the former.
Airbank interfaces with 2,000 banks in the European Union and the UK including Deutsche Bank, Commerzbank, Sparkassen and Volksbanken, and “all major neobanks.”
Airbank’s recent investment round was led by led by Pia d’Iribarne and Jean de la Rochebrochard at New Wave, and saw participation from Speedinvest (surprise) and Tiny VC. In addition to Ascani and McCabe, the firm also saw angel investor participation from Cris Conde, Executive in Residence at Accel.