Berlin-based fintech Airbank, co-founded by an Austrian, has raised $20 million in a Series A funding round. According to the company announcement, venture capitalist Molten Ventures led the funding round; the Austrian early-stage investor Speedinvest also participated. The startup plans to use the new money to finance its future growth.
Airbank is a financial management platform designed to help companies simplify their financial management. “We are investing heavily in automating financial management,” Airbank‘s Austrian co-founder and CEO Christopher Zemina is quoted as saying. “We take our customers’ repetitive, administrative tasks out of finance so they can focus on growing their business.”
The fintech’s platform would also allow businesses to conduct banking transactions without replacing their existing bank accounts. According to its data, Airbank already records an annual transaction volume of over €1.5 billion via its platform.