Spiir secures $4M in investment from Danske Bank.

Denmark Investments 16 May 2018
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Spiir, an Aarhus, Denmark-based company providing a mobile app that helps users to manage their financial situation, announced in a press release raising DKK 25M ($4M) in capital investment from Danske Bank, which becomes co owner of the company.

Spiir, founded in 2011 by CEO Rune Mai and Gudmundur Hreidarsson, develped a platform for management of personal finances, which is used by more than 200,000 Danes to manage their budget, monitor their spending and find less expensive alternatives for their fixed expenses.

Danske Bank made the acqusition in preparation for the advent of Open Banking under the EU's new Payment Services Directive (PSD2). For the account aggregation element, Spiir has set up its own Nordic API Gateway ahead of the incoming PSD2 Directive as a data sharing utility for banks in advance of the development of individual bank API platforms.

The Gateway is an attractive proposition for Danske Bank, which is currently building its own sandbox for developers to play with its APIs ahead of a proper launch along the lines of the UK model at a later date.