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Airbank, Yapily to build a financial management solution for SMBs

Wednesday 13 October 2021 13:10 CET | News

Financial management solution for Europe-based startups and SMBs Airbank has selected Open Banking infrastructure provider Yapily to help its users manage their finances with ease.

Airbank provides a simple financial management solution that aggregates all bank accounts in one place and delivers more control, visibility, and automation to modern finance teams. Startups and SMBs use Airbank to access bank accounts, monitor cash flow in real-time, create reliable forecasts, and make business payments. Airbank matches bank transactions with merchant and category data to give finance teams complete visibility into revenues and expenses, thus helping make their lives easier with cash flow budgeting, forecasting, and reporting.

Yapily's API infrastructure provides Airbank users with a smooth, simple way to connect to more than 1,500 banks across the UK and Europe including Deutsche Bank, Commerzbank, Sparkassen, Volksbanken, and neobanks. Airbank selected Yapily for its strong coverage in Europe, with a specific focus on Germany, France, Spain, and the UK. Yapily's European bank connectivity enables Airbank's customers to scale and grow across Europe, delivering forecast visibility anywhere they go.

The partnership with Yapily alleviates Airbank's customers from spending time and resources managing their finances - giving them direct access to all the financial and contextual data they need in one tool. Historically, most businesses created budgets and cash flow forecasts in manual spreadsheets which is time-consuming and error-prone. With Airbank, customers save time and costs to focus on value-adding business tasks.

The partnership also enables Airbank's customers to use its data enrichment platform and transaction categorisation engine to turn the raw data from bank accounts into meaningful and actionable insights. Airbank reconciles account balances, forecasts financials, and helps business owners make smarter business decisions every day. Harnessing Yapily's leading Open Banking infrastructure, Airbank can accelerate its adoption of digital banking services.

Airbank's vision is to simplify financial management for SMBs and to create a unified platform that helps its users with the full cycle of financial management from cash flow analysis and forecasting, to accounts receivables and payables management, and more. Airbank has raised USD 3 million seed funding from leading VCs, and counts hundreds of users in Germany, Austria, France, Spain, and the UK.


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Keywords: partnership, startup, SMEs, Open Banking, fintech
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech