The HUBUC platform has raised 350.000 euros from some of the main investors in the tech ecosystem in Barcelona. Fintech, founded by Ignacio Javierre and Hasan Nawaz at the end of 2019, is a banking as a platform solution and is currently available in the European market for those companies that want to offer banking services to their customers as part of their current product offer.
The investors include SeedRocket 4Founders, Lanai Partners, Reus Capital, and renowned business angels such as Albert Armengol and Jesús Monleón, as well as mentors from BBVA, Santander, and Deloitte. This is the first funding round of the company (pre-seed), and it aims to consolidate HUBUC in Europe.
At the end of 2019, the two entrepreneurs, having both of them previous experience in the fintech sector, created the company with the aim of democratizing access to banking services. Their vision is to become the Amazon Web Services of the financial sector, according to Javierre and Nawaz. The company has closed its first commercial agreements and already has a team of 12 people, most of them focused on the development of the platform.
The HUBUC platform has two banking partners in the United Kingdom and France, which provide banking services and account deposits. Under its licenses, HUBUC can operate throughout the European Union, while being regulated by the UK Central Bank (FCA) and the French Central Bank (ACPR). Customer money is held by the UK Central Bank (for UK accounts) and in one of the largest Banks in France with over 130 years of history (European accounts).
This way, customers and companies can create from HUBUC debit/credit cards and bank accounts with Spanish IBAN or other countries without the need to apply for a banking license or negotiate with traditional banks. It is also possible to initiate payments or receive collections in an automated way.
The main benefits of this innovative platform are to launch financial products in a few weeks, with a low initial cost and no worries from regulatory risk since that is assumed 100% by HUBUC.
The platform arises in response to the trend in the market, where non-financial companies are incorporating their own banking services as Uber has done with Uber Money or Shopify with Shopify Debit Card. It is what El Corte Inglés started to do years ago with its card. For consumer companies, adding financial services allows them to achieve a comprehensive service offering for customers, to get to know them better and to obtain a new source of income.
An example of a HUBUC success story is the launch of the neo-bank for self-employed people and companies, Pigari.
¿What is HUBUC?
HUBUC is a banking as a platform solution aimed at all types of companies that want to incorporate fintech or banking services into their current product offering. Such as the opening of IBAN accounts, the automatic management of collections and payments, together with the issuing of debit or credit cards. At the end of 2019 Ignacio Javierre and Hasan Nawaz created the company with the aim of democratizing access to banking services. Their vision is to become the Amazon Web Services of the financial sector. The main benefits of this innovative platform are to launch financial products in a few weeks, with a low initial cost and without worries about regulatory risk since that is assumed 100% by HUBUC. The platform is available for trading in all European countries. More information: https://www.hubuc.com/