Yapily Launches in Spain as Coverage Reaches 95% of Spanish Bank Accounts
Yapily, the European open banking infrastructure provider, today launches in Spain to drive innovation, growth and international expansion for domestic banks and the country’s thriving fintech sector. The Spanish launch comes on the heels of Yapily raising $51m in its Series-B fundraising round and will see the appointment of an experienced local team.
Yapily has already developed substantial capabilities in the Spanish market. With 100% PSD2 connectivity, Yapily covers more than 95% of Spanish bank accounts – both retail and corporate – at 52 banks. This represents near total market coverage for the deployment of open banking-enabled products and services. Vivid, the Berlin-based financial platform for investing, banking and saving, already uses Yapily to connect their users to bank accounts in Spain.
Angel Salamanca, Yapily’s Country Lead for Spain, said: “With a focus on rapid growth, Spain’s fintech firms are looking for scalability, innovation and opportunities for international expansion. Yapily’s open banking infrastructure can provide them with all of these as well as the tools to build better products and services. Our infrastructure is API-first, secure, reliable and delivers a great developer experience. Yapily is content to remain in the background – invisible to end users and putting our customers in control and at the forefront in creating better user journeys and experiences.”
Yapily’s experience, presence and expertise across a range of European Union member countries, including Germany, Italy and France, presents Spanish financial institutions and fintech service providers with a foundation for expansion in the world’s biggest trading bloc.
Yapily’s recent completion of its Series-B fundraising round has enabled it to extend open banking across Europe and revolutionise financial services. The investment round had a markedly European flavour, being led by Sapphire Ventures with existing investors Lakestar, HV Capital and LocalGlobe also taking part.
As Yapily’s country lead in Spain, Angel Salamanca brings to the organisation considerable experience of financial services innovation and Spain’s open banking sector. He was previously responsible for Banco Santander’s open banking services strategy and its integrations with fintech and non-financial companies. Prior to that he spent time at a range of other organisations, including BBVA and PwC. He is also a lecturer on payments and open banking at several business schools.
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