Flinks receives $103m investment from National Bank of Canada
Financial data company Flinks has received a $103 million investment from the National Bank of Canada (NBC), with $30 million of growth capital earmarked for its expansion in North America.
Flinks says its open banking API and no-code platform enables businesses to utilise financial data from customer accounts to “deliver better digital products”.
The growth capital will power a rapid expansion of the company’s presence in the United States. The firm says it already has “a robust base of innovative customers, partners, and growing revenue in this market” and plans to double its workforce in order to meet demand.
The Montreal-based fintech is riding a wave of interest from consumers and financial services providers in personalised digital financial products. The company says millions of users in North America are using Flinks to access financial services, and this number has been growing at a “strong pace”.
The investment will also allow Flinks to grow its market share in the wealth and lending spheres and build out its analytics and data enrichment offerings for fintechs, asset managers and banks.
Flinks CEO Yves-Gabriel Leboeuf says leveraging financial data today still requires technical know-how. “With this investment, we have the financial backing, expertise, and network to make it ever easier and more efficient to use financial data.”