Unnax secures EUR 7 mln, completes LATAM entrance

Thursday 14 January 2021 12:50 CET | News

Spain-based fintech Unnax has closed a financing round of EUR 7 million to allow it to consolidate its current markets and enter the LATAM market, according to CincoDías, cited by

The operation, advised by 4Law, has been led by Grupo Elektra, a provider of non-bank loans in the US. Athos Capital and Segtech Ventures, Prosegur’s investment vehicle, have also participated. Previous Unnax investors, such as Swanlaab Venture Factory, Bankinter and telecommunications group CSQ, continue to be linked to the project.

The fintech, since its founding in 2016, has raised just over EUR 9 million. That first year it achieved a seed round of EUR 550,000 and a year later it captured another EUR 1.5 million. In June 2020, Unnax  obtained a triple license, granted by the Bank of Spain, to operate as an electronic money institution, account information service provider, and payment initiation service provider.

The company has a multi-product banking-as-a-service (BaaS) platform, which offers payment solutions and money movement, financial data, and risk measurement tools, as well as products for the management of customer validation processes, identity verification instruments, and fraud prevention, among others.

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Keywords: UNNAX, investment, LATAM, Spain, fintech, electronic money, account information, payment initiation, BaaS
Categories: Banking & Fintech
Countries: Latin America
This article is part of category

Banking & Fintech