Banktrack, a treasury management software for SMEs, has extended its funding round to 2 million euros, showcasing the company’s short-term potential.
Banktrack, a treasury management software designed for SMEs, has successfully extended its funding round to 2 million euros, highlighting the company’s short-term potential and future growth prospects. Kfund, 4 Founders Capital, and LifeX led the round, reaffirming their strong confidence in Banktrack’s vision and capabilities. Additionally, the funding received substantial backing from over twenty business angels, many of whom have a proven track record in founding successful tech companies, including notable figures like Holded’s founders Javier Fondevila and Bernat Ripoll. ENISA’s support also played a significant role in this round.
The newly raised funds will be strategically deployed to enhance the features of Banktrack’s treasury monitoring software. This will not only improve the software’s capabilities but also expand the customer service and sales teams, aiming to accelerate growth within Spain. The company has set an ambitious goal to establish a solid presence in the domestic market before making a foray into international markets. “This funding round will boost our growth, allowing us to validate our business model in Spain this year. Our goal for 2025 is to start operations in other European countries,” said Nacho González-Barros, co-founder of Banktrack.
Since its inception, Banktrack has made impressive strides, gaining 500 clients. The company aims to significantly increase this number, targeting 2,000 clients by the end of the year. Banktrack strives to offer SMEs, startups, and freelancers better control over their expenses and income. The tool provides real-time, simple yet comprehensive control over current and future income and expenses, along with an innovative financial alert service via WhatsApp and email.
“We have identified a genuine need for software that helps small business owners manage their treasury more efficiently, saving them time. At Banktrack, we focus exclusively on helping SMEs manage their expenses and income, foregoing other complex accounting features that many don’t need as their accounting firms already handle that. This focus on a specific area allows us to be highly competitive and offer a much simpler and more intuitive user experience,” explained González-Barros.
Banktrack was founded in 2022 by a team of seasoned entrepreneurs with a wealth of experience in the financial and tech sectors. The founding team includes David Álvarez (formerly of UBS), Nacho González-Barros (founder of InfoJobs and Mailtrack), and Carlos Pérez (ING and Openbank). With an initial investment of 1 million euros, the company set out to revolutionize treasury management for SMEs, and with this recent funding round, Banktrack is well on its way to achieving its ambitious goals.
Media Contact
Organization: Banktrack
Contact Person: Banktrack
Website: https://banktrack.com/en
Email: david@banktrack.com
City: Barcelona
Country: Spain
Release Id: 11062413040