Airbank has announced a $20 million Series A funding round led by Molten Ventures. The money will be used to grow the teams across its three hubs in Berlin, Barcelona, and Vienna, develop the product and extend coverage to new European markets by the end of 2022. The Berlin-based fintech was founded in 2021, raised €2.5 million ($2.6 million) in a Seed round and landed its first customer later that year. In just six months after launching, Airbank says it saw more than €1.5 billion ($1.6 billion) in annualized transactions flowing through its finance platform. It now claims 1,000+ small and medium sized businesses (SMBs) as clients.
Airbank integrated 1,500+ banks last year and says it’ll expand its coverage to 20,000+ banks in the coming weeks. The firm’s technology will be used in 50+ countries by the end of 2022. This means that Airbank will be the most comprehensive global SMB banking solution in the industry, with the ability to connect bank accounts from almost anywhere in the world.