Berlin fintech Airbank with Austria connection received 20 million dollars
The Berlin fintech Airbank, co-founded by an Austrian, has raised 20 million US dollars in a Series A financing round. According to the company announcement, venture capitalist Molten Ventures led the round of financing. The Austrian early-stage investor Speedinvest was also there. With the fresh money, the start-up wants to increase its team of 40, improve its own product software and expand its European business.
Airbank is a financial management platform designed to help businesses simplify their financial management. “We are investing heavily in the automation of financial management,” Austrian Airbank co-founder and CEO Christopher Zemina is quoted as saying. “We relieve our customers of repetitive, administrative tasks in finance, which allows them to focus on growing their business.”
Banking transactions are also possible
Companies could also use the fintech platform to conduct their banking transactions without providing their existing bank accounts. According to Airbank, its platform already has an annual transaction volume of over EUR 1.5 billion.