National Bank of Canada has announced a new investment of US$103 million in Flinks.
The deal also includes a US$30 million growth capital which will be deployed towards accelerating the Montreal-headquartered fintech’s expansion plans in North America.
The investment comes just right after Flinks successfully launched its service in the United States. The capital injection also comes just in time to spur Flinks’ growth, as it seeks to offer the financial data and tools asset managers, banks, credit unions, and fintech firms need to innovate and expand. In North America.
The new funding will also help Flinks expand its market share, presence, and offerings, especially in the wealth management and banking sectors. Also, it will help to further upgrade its offerings in analytics and data.
With the new growth capital, Flinks will be able to speed up its expansion in the United States, which is a market with high growth potential. A strategy to reach this goal is to hire more employees to heighten productivity.
“Leveraging financial data still today requires technical know-how,” said Yves-Gabriel Leboeuf, Flinks’ CEO. “That’s why Flinks has been developing a leading data enrichment and connectivity platform. With this investment, we have the financial backing, expertise, and network to make it even more easy and efficient to use financial data.”
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