Bnext announced a EUR 22M series funding round from DN Capital, Redalpine and Speedinvest.

Bnext, a Madrid, Spain-based provider of alternative banking services, announced closing a financiang round of 22 million euros ($24.2M) in what is considered to be the largest Series A in Spain.

The money was provided by international investors DN Capital, Redalpine and Speedinvest, and included financial contribution from existing investors Founders Future and Mexico-based Cometa. The funding will be used for market consolidation in the Spanish territory and expanding the services availability throughout Latin America.

Bnext, founded in 2016 by Guillermo Vicandi (CEO) and Juan Antonio Rullán, aims to become an alternative to the traditional banking model that allows its users to open an account and a card with which to do their day-to-day operations, control their financial position without the need to go to a bank and choose the financial products. The company has 300,000 active clients in Spain, who can connect their existing bank accounts to the platform and manage their finances in one place, at any time.