Flanks is a technology company.
Flanks is a modular wealth management solution that simplifies the management of wealth data, providing actionable insights and personalized advice through AI-driven technology.
Flanks has raised $26.0M across 3 funding rounds.
Flanks has raised $26.0M in total across 3 funding rounds.
Flanks has raised $26.0M in total across 3 funding rounds.
Flanks's investors include Battery Ventures, Celonis, Cometa, Earlybird Venture Capital, Embedded Ventures, Heartcore Capital, JME Ventures, Picus Capital, Philippe Teixeira da Mota.
Flanks is a Barcelona-based wealthtech company that builds an end-to-end platform to aggregate, reconcile, enrich and visualise clients’ wealth data for banks, family offices, asset managers and advisers, delivered as the Flanks LUME and aggregation modules[3][4].[3][4]
High‑Level Overview
Flanks’ mission is to modernize wealth management by automating manual data work and delivering high‑quality, actionable wealth insights to advisors and institutions so they can offer faster, more personalised advice[3][4].[3][4]
Its investment/scale outcome (for customers) is to replace tedious, paper‑heavy processes with an automated, auditable data pipeline that supports portfolio analysis, reporting and client portals[4].[4]
Key sectors served are private banks, wealth managers, family offices, asset managers, pension providers and fintechs across Europe and beyond[3][4].[3][4]
Impact on the startup and wealth ecosystem: by providing a reusable, regulated data infrastructure and APIs, Flanks reduces onboarding and reporting friction for advisory firms, accelerates productisation of wealth services, and enables fintechs and incumbents to launch richer client experiences without building aggregation and reconciliation in‑house[4][2].[4][2]
Origin Story
Flanks was founded in 2019 in Barcelona by Joaquim de la Cruz, Sergi Lao and Álvaro Morales (former Global Head of Santander Private Banking)[3][2].[3][2]
The founders combined software engineering experience with deep private‑banking domain expertise to address the persistent problem of fragmented, manual wealth data workflows; early product development targeted aggregation and data extraction for advisors and family offices[3][2].[3][2]
Early traction included Spanish market expansion, initial international customers in French‑speaking markets, a Series A to develop a broader product, and growth into other European markets as the company evolved its Flanks LUME all‑in‑one platform[3][1][3].[3][1][3]
Core Differentiators
Role in the Broader Tech Landscape
Flanks rides the broader trends of wealth digitalisation, open banking/data portability, and automation of advisory workflows—drivers that increase demand for trusted aggregation, reconciliation and enriched portfolio data[4][1].[4][1]
Timing matters because demographics (wealth transfer), tightening regulation around transparency, and advisor demand for scalable, personalised client service are increasing pressure on incumbents to adopt cloud‑native wealth infrastructure[3][1].[3][1]
Market forces in their favour include banks’ desire to outsource non‑core data plumbing, growth of family offices seeking unified reporting across jurisdictions, and fintechs wanting fast time‑to‑market for wealth products[2][4].[2][4]
By commoditising high‑quality wealth data and offering APIs and portals, Flanks influences the ecosystem by lowering the barrier to build higher‑order advisory services, robo‑advice front ends, and white‑label reporting—effectively shifting competition toward client experience and advice rather than backend aggregation[4][3].[4][3]
Quick Take & Future Outlook
Next steps likely include deeper international expansion (noted expansion focus on DACH and the UK previously), continued productisation of analytics and AI capabilities on top of the data layer, and further regulatory certifications to win larger banks and pension clients[3][4].[3][4]
Trends that will shape Flanks’ journey are accelerated adoption of open banking/PSD3‑era standards, demand for ESG and alternative‑asset reporting, and advisor workflows that increasingly rely on real‑time, auditable data[1][4].[1][4]
If Flanks sustains platform accuracy and connectivity at scale, its influence should grow as a core infrastructure provider for European wealthtech, enabling incumbents and startups to focus on client‑facing innovation rather than building aggregation and reconciliation capabilities from scratch[4][3].[4][3]
Flanks has raised $26.0M across 3 funding rounds. Most recently, it raised $15.0M Series B in February 2025.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2025 | $15.0M Series B | Battery Ventures, Celonis, Cometa, Earlybird Venture Capital, Embedded Ventures, Heartcore Capital, JME Ventures, Picus Capital, Philippe Teixeira da Mota | |
| Oct 1, 2023 | $8.0M Series A | Celonis, Cometa, Earlybird Venture Capital, Heartcore Capital, JME Ventures | |
| Oct 1, 2021 | $3.0M Seed | Cometa, JME Ventures |