Dutch startup Cobase, which allows companies to access accounts in different banks from one place, has raised €7.5 million from ING Ventures, a corporate VC fund of the Dutch bank ING.
“Our goal is to make it easier and more efficient to work with multiple banks,” said Jorge Schafraad, CEO and founder of Cobase. “Companies in our target group often hold many accounts with many different banks. Using Cobase, the customer can manage all those accounts via a single platform. End users only need to use one portal, and the customer’s ERP system can be integrated into Cobase alone, so it no longer has to be integrated separately with each bank.”
In 2016, Cobase completed the accelerator programme of ING Wholesale Bank. Since then, the startup has been busy with testing, prototyping, customer validation, and market research. Now the company plans to move to active sales and marketing.
Currently, Cobase is focusing on customers from the Netherlands and Western Europe but plans to expand globally in the future.