Devengo Closes €2 Million Funding Round to Lead A2A Payment Infrastructure in Europe

Devengo, a Spanish fintech specializing in account-to-account (A2A) payment infrastructure, has closed a pre-Series A funding round worth €2 million, combining debt and equity. 

This transaction consolidates the company as Spain’s pioneering fintech offering multi-sector infrastructure for instant payments and reinforces its positioning to lead European expansion in the SEPA zone. 

Unique institutional backing in the Spanish fintech ecosystem 

The round features participation from Bankinter, Demium, and Banco Sabadell as lead investors, alongside continued support from existing partners such as TheVentureCity, Wayra—the corporate venture capital division of Telefónica—and Business Angels. This combination of venture capital, traditional banking, and corporate-backed investment vehicles represents significant validation of Devengo’s value proposition in the competitive European payments market. 

“The entry of banks into Devengo’s capital structure is a clear signal of the strength of our value proposition and reinforces the solidity of our capital structure,” explains Fernando Cabello-Astolfi, CEO and Co-founder of Devengo. 

In the words of Andrés Dancausa, General Partner at TheVentureCity, “Devengo has everything it takes to lead instant account-to-account payments in the SEPA zone and become a key player in the modernization of European payment infrastructure.” 

“Their API-first approach, their understanding of modern businesses’ needs, and their execution capabilities position them as a natural partner to build the future of instant payments,” Dancausa concluded. 

Multi-sector infrastructure for instant payments 

With its API-first model, Devengo has established itself as the reference infrastructure for instant, automated, and intelligent A2A payments, present across various expanding sectors including insurance, lending, online gaming, real estate, e-commerce, and services, among others. 

The fintech stands out for its pioneering model of direct technical connection with the Iberpay clearing house, eliminating dependence on traditional banking intermediaries and offering greater efficiency and control over payment operations. 

Its direct access to the national payment system, combined with specialized regulatory knowledge, enables a differentiated value proposition in terms of speed, security, and scalability. 

European expansion and adoption of next-generation protocols 

The funding will allow Devengo to accelerate its geographic expansion across the SEPA zone (Single European Payments Area) and strengthen its position amid growing demand for instant payments in Europe. 

Additionally, the company plans to incorporate next-generation payment protocols early on, such as Request to Pay and instant international transfers, anticipati