Airbank, a financial management and account aggregation platform for businesses that launched last year, has raised $20 million in a funding round led by Molten ventures.
The Series A round also included participation from business angels, Brex's Bruce Wallace, , Guillaume Cabane from HyperGrowth Partners, and Cris Conde, alongside existing investors New Wave, Speedinvest, and Entrepreneur First.
Airbank’s software provides businesses with a financial management toolkit, tracking cash flow and automating payments, handling expenses and speeding up bookkeeping. Airbank currently integrates with more than 2,000 banks and allows the user to consolidate multiple accounts in one place.
In just six months after launching, Airbank saw more than €1.5 billion in annualised transactions flowing through its platform.
“We’re leaning heavily into full automation of financial management,” co-founder and CEO Christopher Zemina says. “We free up customers from worrying about mundane finance tasks, so they can focus on growing their businesses.”
He says the fresh capital will be used by the startup to expand its 40-strong team, invest in product and technical developments, and expand into new markets.
"An undeniable ingredient of our growth was the ability to hire members from all over the world and provide options with regard to how and where they want to work," Zemina continues. "After setting up three European hubs - in Berlin, Barcelona and Vienna - we want to expand our teams in those hubs as well as grow into different hubs in Europe and beyond."