Flanks Earns $8 Million in Funding: Revolutionizing Wealth Management with High-Tech Solutions

Flanks, a Barcelona-based wealth management platform, has successfully secured $8 million in a Series A funding round led by Earlybird Venture Capital. This significant investment will propel Flanks towards further innovation in the wealth management industry, enabling enhanced client-advisor interactions and streamlined investment decision-making processes.

Flanks’ single API for aggregated wealth data

Flanks offers a pioneering solution – a single API that aggregates wealth data across custodians, providing clients with a comprehensive and real-time view of their investment portfolios. This technology allows for efficient asset allocation analysis and optimizes investment strategies by leveraging data from more than half a million investment portfolios on a monthly basis. What sets Flanks apart is its compatibility with over 300 banks globally, ensuring seamless integration of wealth data.

Plans for Growth and Automation

With the infusion of new capital, Flanks is poised to expand its offerings and tap into additional segments of the wealth management value chain. By automating manual processes and integrating intelligent algorithms, the platform aims to provide advanced alerts and investment recommendations to financial advisors and their clients. This automation will enable advisors to focus more on strategic decision-making and personalized client interactions, ultimately driving greater value for both parties involved.

Impact of Flanks’ Technology on Financial Advisors

As Flanks empowers financial advisors to have a holistic view of their clients’ global asset allocation, it revolutionizes the way advisors interact with their customers. Historically, advisors often operated without a comprehensive understanding of their clients’ entire investment portfolio. However, Flanks’ technology ensures that financial advisors have a complete picture, enabling them to provide informed and tailored advice. This becomes all the more significant in light of the upcoming MiFID III regulation, which will demand a detailed assessment of an investor’s pre-existing wealth before providing financial advice.

Funding Round and Investor Support

Flanks’ successful funding round was backed by its existing investors, JME Ventures and 4Founders Capital, reaffirming their confidence in the platform’s potential. In addition, angel investors Raffaele Terrone (co-founder of Scalapay) and Martin Kassing (co-founder and CEO of Upvest) also participated in the round, further validating Flanks’ ability to disrupt the wealth management landscape.

Flank’s Client Base

Flanks caters to a diverse clientele, ranging from large financial institutions to family offices and independent financial advisors. Its platform enhances the operational efficiency of financial institutions by providing accurate and aggregated wealth information, thereby optimizing the investment decision-making process. Family offices and independent advisors, on the other hand, benefit from Flanks’ transformative technology that enables them to offer comprehensive and personalized wealth management services to their clients.

The successful $8 million Series A funding secured by Flanks heralds a new era in the wealth management industry. With its innovative single API for aggregated wealth data, Flanks is poised to revolutionize the way financial advisors interact with their clients. By automating manual processes and empowering advisors with global asset allocation knowledge, Flanks’ technology is set to shape the future of wealth management. As the industry prepares for the implementation of MiFID III, Flanks’ solution ensures that financial advisors are well-equipped to provide truly tailored advice based on a holistic understanding of their clients’ wealth. With the support of its investors, Flanks is set to continue its phenomenal growth and leave a lasting impact on the wealth management landscape.

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