Fintech & Ecommerce

Spanish fintech company attracted funding from ING

Fintonic secures additional funding from ING Ventures

Spanish fintech company attracted funding from ING. Source:

ING Ventures, the venture capital arm of ING, announced a further multi-million euro investment in Spanish-based fintech, Fintonic.

Fintonic is the leading finance app in Spain, which allows users to manage their personal finances better by solving their financing needs and helping them to save.

ING led the €19 million funding round with contributions from 10 other investors. In doing so, ING increased its stake in Fintonic from 15% to 22%.

ING announced its initial investment in June 2017.

The personal finance platform has seen a 74% increase in active users over the last 14 months. It now has 700,000 active users and has been downloaded more 2.8 million times.

In addition to Spain, Fintonic also has a presence in Chile and Mexico.

SEE ALSO: 10 most active VCs investing in Fintech

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