Open Banking infrastructure provider Yapily has been selected by Airbank, a multi-banking platform for startups and SMBs, to build a financial management tool with European connectivity that enables SMBs to manage their accounts in one place.
Airbank said that it chose Yapily for its “strong coverage” in Europe, with a specific focus on Germany, France, Spain and the UK.
Airbank’s financial management solution aggregates all bank accounts in one place, allowing startups and SMBs to access bank accounts, monitor cash flow in real-time, create reliable forecasts, and make business payments.
Yapily’s API infrastructure means that Airbank users can connect to more than 1,500 banks across the UK and Europe, including Deutsche Bank, Commerzbank, Sparkassen, Volksbanken and several neobanks.
In turn, this connectivity will help businesses to scale and grow across Europe.
“We’re building a business banking solution that connects all your financial accounts in one place,” said Christopher Zemina, co-founder and CEO of Airbank.
“Our partnership with Yapily gives users a smooth and simple way to connect to thousands of banks in Europe, unlocking real-time insights into their cash flow. We eliminate the pains of finance admin so business owners can focus on what’s really important — growing their business.”
Airbank has raised $3 million of seed funding from VCs, and has users in Germany, Austria, France, Spain and the UK.
Chris Scheuermann, commercial lead DACH at Yapily, added: “By leveraging Yapily’s Open Banking infrastructure, Airbank can provide actionable insights to businesses – at a time where it’s needed.
“As a small, yet fast-growing company, Yapily is committed to supporting the SMB community and we are excited to see how Airbank delivers the benefits of Open Banking to many businesses across Europe.”