Devengo, a Spanish fintech specializing in account-to-account (A2A) payment infrastructure, has closed a pre-Series A funding round worth €2 million, combining debt and equity. This operation consolidates the company as the pioneering Spanish fintech offering a multi-sector infrastructure for instant payments and strengthens its positioning to lead European expansion within the SEPA zone.
Entry of banks into the fintech’s shareholding structure
The round includes participation from Bankinter, Demium, and Banco Sabadell as main investors, alongside continued support from existing backers such as TheVentureCity, Wayra (Telefónica’s corporate venture capital arm), and several Business Angels. This combination of venture capital, traditional banking, and corporate investment vehicles represents a strong endorsement of Devengo’s value proposition in the competitive European payments market.
“The entry of banks into Devengo’s shareholding is a clear sign of the strength of our value proposition and reinforces the solidity of our capital structure,” said Fernando Cabello-Astolfi, CEO and Co-founder of Devengo.
According to Andrés Dancausa, General Partner at TheVentureCity: “Devengo has everything it takes to lead instant account-to-account payments in the SEPA zone and become a key player in modernizing Europe’s payment infrastructure. Their API-first approach, understanding of modern business needs, and strong execution capability make them a natural partner to build the future of instant payments.”
With its API-first model, Devengo has established itself as the reference infrastructure for instant, automated, and intelligent A2A payments, currently active across several growing sectors such as insurance, financing, online gaming, real estate, e-commerce, and professional services, among others.
The fintech stands out for its pioneering model of direct technical connection to Iberpay, the Spanish clearing house, removing dependency on traditional banking intermediaries and offering greater efficiency and control over payment operations.
Its direct access to the national payment system, combined with specialized regulatory expertise, enables Devengo to deliver a differentiated value proposition in terms of speed, security, and scalability.
The new funding will allow Devengo to accelerate its geographic expansion across the SEPA zone (Single European Payments Area) and strengthen its position amid the growing demand for instant payments in Europe.
In addition, the company plans to adopt next-generation payment protocols such as Request to Pay and instant international transfers, anticipating the upcoming regulatory and technological trends shaping the European payments ecosystem.
Devengo (payment institution authorized by the Bank of Spain, registration number 6940) is the pioneering Spanish fintech in account-to-account (A2A) payment infrastructure, offering instant payment solutions across multiple sectors. With its direct connection to Iberpay and API-first architecture, Devengo enables automatic, instant, programmable, and intelligent payments for businesses seeking to optimize their payment processes, reduce operational costs, and enhance their value proposition.
More information: https://www.devengo.com
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