MyInvestor announced 20 million euro in strategic investment.
MyInvestor, a Barcelona, Spain-based company providing banking services, announced the completion of a EUR 20 million ($22.5M) capital investment raising.
The funding was backed by existing investor, Andbank, which contributed with 10 million and included financial contribution from AXA Spain, El Corte Inglés Seguros and a group of family offices and Spanish investors. Following the transaction Andbank will control 75% of the shares package.
MyInvestor, founded in 2018 and led by co-CEOs Nuria Rocamora and Gabriela V. Orille, is a so-called neo-bank as it uses a mobile application for proving banking services to Spanish customers. The company claims to have 16,000 clients and will close 2019 with a turnover of 200 million, which represents a growth of more than 500% yoy.