Flanks Secures €14 Million to Revolutionize Wealth Management
February 28, 2025, 9:47 pm
Location: Spain, Catalonia, Barcelona
Employees: 51-200
Founded date: 2018
Total raised: $25.36M
In the bustling heart of Barcelona, a financial revolution is brewing. Flanks, a cutting-edge FinTech platform, has raised €14 million in a funding round led by Motive Ventures. This investment marks a significant leap for the company, poised to reshape the landscape of wealth management across Europe.
Founded in 2019 by Joaquim de la Cruz, Álvaro Morales, and Sergi Lao, Flanks aims to bridge the gap between traditional wealth management and modern technology. The trio, armed with experience from top financial institutions, recognized a glaring need for innovation in an industry often bogged down by outdated practices. Their vision? To empower financial advisors with tools that enhance efficiency, transparency, and client relationships.
The latest funding round also saw participation from Battery Ventures and existing investors like Earlybird, JME Ventures, and 4Founders Capital. This backing underscores the confidence investors have in Flanks’ potential to drive real change in wealth management. The company’s platform, Flanks LUME, is not just another tool; it’s a comprehensive solution that automates data collection and transforms complex financial information into actionable insights.
Wealth management has long been a sector resistant to change. While other areas of finance have embraced technology, wealth management has remained stagnant, like a ship anchored in a harbor. Flanks aims to unmoor that ship. The company’s platform aggregates and reconciles data from both public and private markets, offering a 360-degree view of client portfolios. This holistic approach allows advisors to make informed decisions swiftly, a necessity in today’s fast-paced financial environment.
The founders’ ambition aligns with broader trends in the industry. As generational wealth transfers loom and regulations like PSD3 come into play, the demand for innovative solutions is skyrocketing. Flanks is not just keeping pace; it’s setting the tempo. The platform currently processes over 500,000 portfolios monthly, handling both structured and unstructured data, including non-financial assets. This capability positions Flanks as a leader in the wealth management space, ready to tackle the complexities of modern finance.
The company’s growth trajectory is impressive. Since its inception, Flanks has expanded into new markets, including France and the UK, and has successfully moved up-market to cater to enterprise clients. Over 100 banks, advisors, and large financial institutions now rely on Flanks’ solutions, managing portfolios worth more than €37.1 billion. This level of adoption speaks volumes about the platform’s effectiveness and the trust it has garnered in a traditionally cautious industry.
Flanks LUME is more than just a data aggregation tool. It’s a transformative platform that enhances workflows through automation and intelligence. By streamlining processes, Flanks enables advisors to focus on what truly matters: building relationships with clients and providing tailored financial advice. The company plans to further enhance its offerings by incorporating order execution and automated investment proposals, pushing the boundaries of what wealth management can achieve.
The investment from Motive Ventures is a testament to Flanks’ potential. The firm’s Head, Ramin Niroumand, emphasized the importance of data in driving change within the wealth management sector. Flanks is not merely riding the wave of technological advancement; it’s creating the surfboard. By leveraging smarter data use, Flanks is well-positioned to lead the next phase of growth in the industry.
The landscape of wealth management is changing. As technology continues to evolve, the need for modern data infrastructure becomes increasingly critical. Shiran Shalev, a partner at Battery Ventures, highlighted the gap in technological advancement within wealth management compared to other financial services. Flanks is stepping into that void, building the tools necessary for the industry’s next chapter.
With a team of over 75 employees, Flanks has attracted talent from leading financial institutions and fast-growing unicorns across Europe. This diverse expertise fuels the company’s innovation and growth, ensuring it remains at the forefront of the FinTech revolution.
In conclusion, Flanks is not just another FinTech startup; it’s a beacon of change in the wealth management sector. With its recent funding, the company is poised to accelerate its growth and continue developing solutions that empower financial advisors. As the industry faces unprecedented challenges and opportunities, Flanks stands ready to lead the charge, transforming wealth management from a traditional bastion into a dynamic, data-driven landscape. The future of finance is here, and it’s powered by Flanks.
Founded in 2019 by Joaquim de la Cruz, Álvaro Morales, and Sergi Lao, Flanks aims to bridge the gap between traditional wealth management and modern technology. The trio, armed with experience from top financial institutions, recognized a glaring need for innovation in an industry often bogged down by outdated practices. Their vision? To empower financial advisors with tools that enhance efficiency, transparency, and client relationships.
The latest funding round also saw participation from Battery Ventures and existing investors like Earlybird, JME Ventures, and 4Founders Capital. This backing underscores the confidence investors have in Flanks’ potential to drive real change in wealth management. The company’s platform, Flanks LUME, is not just another tool; it’s a comprehensive solution that automates data collection and transforms complex financial information into actionable insights.
Wealth management has long been a sector resistant to change. While other areas of finance have embraced technology, wealth management has remained stagnant, like a ship anchored in a harbor. Flanks aims to unmoor that ship. The company’s platform aggregates and reconciles data from both public and private markets, offering a 360-degree view of client portfolios. This holistic approach allows advisors to make informed decisions swiftly, a necessity in today’s fast-paced financial environment.
The founders’ ambition aligns with broader trends in the industry. As generational wealth transfers loom and regulations like PSD3 come into play, the demand for innovative solutions is skyrocketing. Flanks is not just keeping pace; it’s setting the tempo. The platform currently processes over 500,000 portfolios monthly, handling both structured and unstructured data, including non-financial assets. This capability positions Flanks as a leader in the wealth management space, ready to tackle the complexities of modern finance.
The company’s growth trajectory is impressive. Since its inception, Flanks has expanded into new markets, including France and the UK, and has successfully moved up-market to cater to enterprise clients. Over 100 banks, advisors, and large financial institutions now rely on Flanks’ solutions, managing portfolios worth more than €37.1 billion. This level of adoption speaks volumes about the platform’s effectiveness and the trust it has garnered in a traditionally cautious industry.
Flanks LUME is more than just a data aggregation tool. It’s a transformative platform that enhances workflows through automation and intelligence. By streamlining processes, Flanks enables advisors to focus on what truly matters: building relationships with clients and providing tailored financial advice. The company plans to further enhance its offerings by incorporating order execution and automated investment proposals, pushing the boundaries of what wealth management can achieve.
The investment from Motive Ventures is a testament to Flanks’ potential. The firm’s Head, Ramin Niroumand, emphasized the importance of data in driving change within the wealth management sector. Flanks is not merely riding the wave of technological advancement; it’s creating the surfboard. By leveraging smarter data use, Flanks is well-positioned to lead the next phase of growth in the industry.
The landscape of wealth management is changing. As technology continues to evolve, the need for modern data infrastructure becomes increasingly critical. Shiran Shalev, a partner at Battery Ventures, highlighted the gap in technological advancement within wealth management compared to other financial services. Flanks is stepping into that void, building the tools necessary for the industry’s next chapter.
With a team of over 75 employees, Flanks has attracted talent from leading financial institutions and fast-growing unicorns across Europe. This diverse expertise fuels the company’s innovation and growth, ensuring it remains at the forefront of the FinTech revolution.
In conclusion, Flanks is not just another FinTech startup; it’s a beacon of change in the wealth management sector. With its recent funding, the company is poised to accelerate its growth and continue developing solutions that empower financial advisors. As the industry faces unprecedented challenges and opportunities, Flanks stands ready to lead the charge, transforming wealth management from a traditional bastion into a dynamic, data-driven landscape. The future of finance is here, and it’s powered by Flanks.