Airbank, an all-in-one finance management platform for small businesses, has raised $20m in its Series A funding round.
Molten Ventures led the round, which saw participation from existing investors New Wave, Speedinvest, and Entrepreneur First.
Business angels including Brex strategic advisor Bruce Wallace, HyperGrowth Partners’ Guillaume Cabane, and Accel Partners senior advisor Cris Conde also joined the round.
Airbank will use the funding to expand its team and invest in significant product and technical developments.
The fintech, which has three European hubs in Berlin, Barcelona and Vienna, will also use the investment to grow into different hubs in Europe and beyond.
Through Airbank’s solutions, businesses can access finance management toolkits to track cash flow, automate payments, handle expenses, and accelerate bookkeeping.
Airbank offers connectivity with over 2,000 banks allowing customers to view multiple accounts in one place.
“The future of finance management and Airbank lies in the automation of a majority of financial processes,” the fintech said.
Airbank co-founder and CEO Christopher Zemina said: “We are radically simplifying the process to help our customers save hours of analysis and administrative work so that they can redirect their time to actually running their business.
“We are leaning heavily into full automation of financial management. We free up customers from worrying about mundane finance tasks, so they can focus on growing their businesses.”
Molten Venture partner Vinoth Jayakumar said: “Airbank is unique in its vision of building the future of the end-to-end CFO suite.
“We have been spending the last few months thinking about how the finance software stack will evolve and we are super excited about the platform Airbank is building to be the hub of where all financial decisions are made.”
