About Flanks

Flanks raises €14M to lead wealth management for next-gen advisory

February 26, 2025

Key Highlights

  • Flanks secures €14M in equity funding led by Motive Ventures, joined by Battery Ventures and existing investors.
     
  • The capital will fuel European expansion and evolve its end–to-end wealth management platform.

  • Flanks is redefining portfolio administration for banks, family offices and wealth advisors through data-led insights and automation.

  • Over 100 banks, family offices, advisors and large financial institutions use Flanks to manage more than 500,000 portfolios monthly: representing $39B+ in assets.

Flanks secures equity funding to transform Wealth Management with data-led insights and automation

Barcelona-based fintech Flanks, co-founded by CEO Joaquim de la Cruz, Sergi Lao, and Álvaro Morales, has closed a €14M equity round to further accelerate the company’s growth into Europe and drive continued development of Flanks’ wealth management technology platform.

The round was led by Motive Ventures, joined by Battery Ventures and supported by existing investors:  Earlybird Venture Capital, JME Ventures, and 4Founders Capital.

“Flanks is tackling one of the most critical bottlenecks in wealth management — data fragmentation. Their ability to scale advisory services through clean infrastructure and automation makes them uniquely positioned to lead the next wave of transformation,” said Ramin Niroumand, Head of Motive Ventures.

“This funding validates our vision to rebuild wealth management from the ground up, powered by clean data, smart workflows, and seamless experiences,” said Joaquim de la Cruz, CEO of Flanks.

The company enables financial institutions, banks, and family offices to move beyond fragmented legacy systems by offering a secure, intelligent infrastructure for cross-border wealth data consolidation and ready to use wealth management insights.

Since its inception, Flanks (AISP regulated by Bank of Spain) has evolved from a wealth data aggregation solution into an end-to-end platform that combines cutting-edge technology and automation into actionable workflows. The platform aggregates, reconciles, and enriches data across all asset classes from both public and private markets globally, providing actionable insights. Leveraging this data infrastructure, Flanks improves workflows through automation and intelligence across the wealth management value chain, offering 360º client reporting, portfolio insights, and custom projections. 

Flanks, powering a 360° client wealth view

Flanks is a regulated AISP under PSD2, supervised by the Bank of Spain, providing a secure and compliant solution for wealth data aggregation and automated reconciliation across asset classes.

Its platform is used by over 100 financial institutions to:

  • Consolidate global assets for family offices, including public, private, and non-financial assets (real estate, crypto, private equity)

  • Deliver alternative and financial asset data aggregation in one unified view

  • Enable 360° client wealth views with smart reporting, analytics, and forecasting tools

  • Power next-gen portfolio administration and advisor-client workflows

“In contrast to the rapid technological advances we’ve seen in financial services across lending, payments and insurance, wealth management has remained a massive traditional sector that is, as of yet, largely underserved by modern technology", said Shiran Shalev, Partner at Battery Ventures. “Flanks is doing the hard work of creating critical, modern data infrastructure and software the industry needs to enable the next phase of growth for European asset and wealth managers.”

What this round will power: expansion, automation, and personalisation

The €14M will accelerate Flanks’ growth through three core pillars:

1. European expansion

Flanks will strengthen its local presence and distribution across priority European markets.

2. Continued product development

The company will expand its financial data aggregation API and improve its aggregation module, with new features to support complex asset classes and tighter advisor-client integration.

3. Automated workflows & next-gen advisory

With Flanks modular solution, advisors can automate onboarding, proposal generation, compliance checks, and portfolio reviews — helping firms deliver wealth management for family offices, banks and institutions at scale.

“Our wealth data aggregation technology and automation tools empower advisors to offer personalised wealth services, faster and more accurately — even in cross-border, multi-asset scenarios,” said Joaquim de la Cruz.

Looking ahead: Wealth Management, rebuilt from the core

This new funding isn’t just a growth round — it’s a vote of confidence in a new model for the wealth management industry. Flanks is building the rails for a future where:

  • Data is unified across jurisdictions and asset classes

  • Advisors work with high quality data, daily updated market information and clean insights

  • Wealth managers can serve more clients, faster and with hyper-personalisation — without sacrificing compliance or quality

With the support of top-tier investors and a growing roster of clients, Flanks is ready to define the next chapter in the wealth management industry.

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About Flanks

Flanks is a wealth management technology company redefining the advisory services industry. Its solution, Flanks LUME, automates manual tasks and transforms complex wealth data into actionable insights that help advisors get a holistic view of their clients wealth to make faster, more informed investment and risk management decisions.

Flanks was founded in 2019 in Barcelona by software engineers Joaquim de la Cruz and Sergi Lao alongside former Santander Private Banking Global Head Álvaro Morales, and combines advanced technology with deep financial expertise to serve companies like banks, family offices, and tech companies. To date, the company has raised a total of 23.550 million euros from investors.