This is the starting signal in the process of expansion and internationalization of different products and services. Former investors such as Kalonia Venture Partners, Draper B1, Latinia, Xesgalicia, Fundación Bankinter, and Alanzady España once again placed their trust in us by participating in the financing round. All this fills us with pride, having successfully met the milestones and the roadmap we have set for ourselves.
It all started 5 years ago, when the 3 founders of the company: David Conde, Óscar Barba, and Juan Carlos López, decided to do their bit by providing solutions to improve the financial health of small savers. After many years of experience in the financial sector, they detected a market niche, developing products for efficient and effective financial planning.
The core business of Coinscrap Finance is based on a platform that offers its clients (banks and insurance companies) a white label, allowing them to launch new functionalities to their users in a very short time and with a low budget. Its main products are micro-savings, micro-insurance, and financial planning modules. All of them have the possibility to use open-banking data that the platform takes care of, categorizes, and analyzes to discover cross-selling opportunities for our customers.
These solutions are in constant development, meeting the demands of the market and studying the feedback from users, improving every day, adapting the look & feel of the client so that the experience is highly satisfactory.
With the new round closed, we hope that this new financing will serve as a catalyst to launch innovative projects that can be incorporated into other markets internationally. We are convinced that this will promote more accelerated and steady growth in Coinscrap Finance, consolidating the business model and opening new challenges and opportunities, with an energetic, professionalized, and committed staff with the necessary experience to achieve the objectives set.
We thank the entire Coinscrap Finance team for all the work and dedication put into consolidating this fintech as a benchmark in the financial sector in Spain. Your efforts are reflected in what we have achieved today, which will allow us to continue growing in the years to come.