202320 Nov

Madrid-based Fence raises €1.8 million to automate debt operations with blockchain management platform

Summary

The operation has been led by Semantic.vc with the participation of VCs Crane Earth, Actyus and prominent business angels, including Hardi Maybaum, Mark Ransford, Didier Valet, Luca Ascani, Baptiste Cota, Paula Blázquez, Eduardo Salvo and Alexandra Piedrahita, in addition to the founders of Cobee, Wallapop and Glovo, among others. With the fresh capital, Fence will continue to invest in development and technology, as well as expand its operations to serve more banks, private debt funds and fintechs across Europe. Founded in 2023 by Juan Montero, Ignacio Rosario and Gonzalo Bandeira, Fence positioned itself as a unique player to transform debt management, and in just a few months it was the platform chosen to carry out the recent financing agreement of up to €20 million between BBVA Spark and Payflow. Thanks to Fence and its integration via API (Application Programming Interface), investors can access information on debt updated in real time, which improves decision-making. In addition, the automation of reconciliation allows us to comply with the information and payment schedule requirements for investors without expanding the team, which “It means savings of up to 80% in operating costs.”

Source: Eu-startups

Funding

$1.96M
Amount
Nov 20 2023
Date
-
Investor
Fence
Company

Classifications

Companies