Afterbanks Arcopay
Afterbanks Arcopay is a technology company.
Active
Updated: ·
Financial History
Total Raised
N/A
Valuation
N/A
Afterbanks Arcopay is a technology company.
Afterbanks Arcopay is a Spanish fintech company specializing in Open Banking and Open Finance solutions, regulated by the Bank of Spain as a Payment Institution authorized across the European Union.[1][2][4] It builds APIs for real-time financial data aggregation and Account-to-Account (A2A) payment initiation, connecting to banks and entities in Europe (Spain, Italy, Greece, Portugal) and Latin America (Mexico, Argentina).[1][2][3] Serving over 250 clients—including major Spanish banks like BBVA, accounting software providers like Sage and DELSOL, and other financial tools—it solves pain points in manual data entry, treasury management, and cross-bank operations by automating standardized data retrieval from over 1,000,000 accounts and 70 million monthly transactions.[1][4] As part of Minsait Payments (an Indra company subsidiary) since 2019, it drives growth in Open Finance, enabling businesses to digitize accounting, enhance customer services, and launch new models with reduced errors and resource savings.[1][2]
Founded in 2012 in Madrid, Spain, Afterbanks Arcopay emerged as a pioneer in banking aggregation and PSD2-compliant API technology for Open Banking.[3] Early investors included fintech serial founder Fernando Cabello-Astolfi and François Derbaix of Indexa Capital, with a €360,000 funding round supporting initial development.[1][3] A pivotal moment came in 2019 when Minsait (part of Indra) acquired Afterbanks, integrating it into Minsait Payments to scale Open Banking capabilities across Europe and Latin America.[1][2] This partnership boosted traction, leading to deals with Spain's leading banks, Sage for bank account aggregation, and DELSOL for accounting management, while expanding offices to Mexico and the UK.[1][3][4] Regulation as a Payment Institution by the Bank of Spain (and Afterbanks Ltd. by the UK FCA) solidified its compliance foundation.[1][3]
Afterbanks Arcopay rides the Open Banking/Open Finance wave, accelerated by PSD2 in Europe and rising A2A adoption in Latin America, where real-time data and payments disrupt legacy banking.[1][2][4] Timing aligns with post-PSD2 maturation (launched payment gateways via Afterbanks) and LatAm digitization, fueled by market forces like BBVA's aggregator push and demand for embedded finance in accounting/ERP tools.[1][4] It influences the ecosystem by powering major banks' services, enabling fintechs/software to aggregate multi-bank data seamlessly, and bridging Europe-LatAm—reducing silos, boosting efficiency, and fostering models like automated treasury that save resources for growth.[1][2][4]
With Minsait's backing and recent BBVA partnership, Afterbanks Arcopay is poised to deepen LatAm penetration (Mexico/Argentina) and expand Open Finance features like non-financial data/government integrations.[2][3][4] Trends like instant payments, AI-driven analytics on aggregated data, and regulatory harmonization across regions will propel it, potentially growing client base beyond 250 amid rising embedded finance demand.[1][4] Its influence may evolve from aggregator to full Open Finance platform, shaping how banks and software redefine customer experiences—cementing its role as the regulated bridge for real-time, borderless financial innovation.[1][2]