Barcelona-based Flanks, a wealth management technology company, has successfully raised €14M in funding to bolster its growth across Europe and enhance its technology platform. The investment round, led by Motive Ventures, aims to address critical challenges in wealth management, particularly in data automation. Flanks' leadership highlights the importance of data not just for visualization but for comprehensive aggregation and service enhancement, aligning with the company's strategy to transform financial advisory services for major global banks. Founded in 2019, Flanks has already expanded into key European markets such as France and the UK.
Flanks solves a key challenge in wealth management by automating how data is collected and used to provide better financial advice. "At Motive, we focus on backing companies like Flanks that are driving real change in the wealth management industry."
Data is the foundation of the wealth management industry's transformation. Many solutions focus on surface-level innovation; emphasising data visualisation without addressing the deeper challenges of data aggregation."
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