NAventures, the strategic investment arm of financial services firm National Bank, led an $11m series A round for Canada-based banking digitisation technology developer Flinks yesterday.
The round included Intact Ventures, Luge Capital and Panache Ventures, and the equity funding was raised alongside $5.2m of debt financing from National Bank’s Technology and Innovation Banking Group.
Flinks aggregates financial data through a software platform that enables businesses to connect to customers’ bank accounts in order to offer financial services. The series A proceeds will support expansion into new markets.
National Bank and Luge Capital co-led the company’s $1.3m seed round in mid-2018, investing with Innostart Capital, Panache, iNovia Capital and Conconi Growth Partners. It followed $390,000 in pre-seed funding from unnamed investors the year before.