Spain-based Bnext secures $13 mn in funding round led by existing investors

Source: IBS Intelligence 2020-08-10

Bnext, a Spanish alternative banking services provider, has raised $13 million in a funding round led by its existing investors, including DN Capital, Redalpine, Speedinvest, Founders Future, Enern, Digital Horizons, Kreos Capital and Cometa -formerly Variv. The fresh inflow of capital is expected to boost Bnext’s plans of strengthening its foothold in Spain and facilitate Latin American expansion with new service launches in Mexico.

IBS Intelligence recently reported that mobile commerce technology company Button partnered with Bnext in a bid to enable the neobank’s customers to shop and save money with brands including AliExpress, Groupon, and Black Limba. The partnership allows Bnext to enhance customer engagement and offer users an incentive to check their savings on their daily spending. It also accelerates the bank’s expansion across Spain and Mexico.

Nenad Marovac, founder and managing partner of DN Capital, said, “Bnext is the market-leading digital bank in Spain and soon to be in Latin America. We are very impressed with the company’s growth to date and the ambitions of the management team. Together with our partners Speedinvest and Red Alpine, we look forward to helping Bnext realize its ambitions.”

Recently, the company secured $25 million in a Series A funding round led by DN Capital, RedAlpine, SpeedInvest along with the participation of existing investors such as France-based Founders Future, Cometa as well as Enern, USM, and Conexo.

Established in 2018 and co-founded by Guillermo Vicandi and Juan Antonio Rullán, Bnext aims to offer customized services tailored to individual needs. The mobile banking platform allows its customers to connect their existing bank accounts and aims to facilitate transparent and flexible financial management along with financial and insurance products from partners.

Spain-based Bnext secures $13 mn in funding round led by existing investors

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