Spain’s Banktrack secures €2M Seed round, bolstering its mission to revolutionize the financial industry through innovative banking solutions

Banktrack, a Spanish treasury management software tailored for small and medium-sized enterprises (SMEs), has recently extended its funding round, securing an impressive €2 million.

The raised capital will serve multiple purposes, primarily focusing on bolstering the functionalities of the treasury monitoring software. Additionally, it will facilitate the expansion of Banktrack's customer service and sales teams. These strategic investments aim to fuel accelerated growth within Spain, positioning Banktrack for future expansion into international markets.

By allocating resources towards product enhancement and team expansion, Banktrack aims to solidify its position as a leader in treasury management solutions for SMEs, both domestically and globally.

Banktrack is dedicated to empowering small and medium-sized enterprises, startups, and freelancers by providing them with enhanced control over their expenses and revenues. The tool facilitates comprehensive management of both current and projected income and expenses, complemented by a convenient financial alerts service delivered via WhatsApp and email.

Since its inception, Banktrack has rapidly garnered support, acquiring 500 clients within a relatively short timeframe. With ambitious goals in mind, the company anticipates scaling its client base to 2,000 by the end of the year.

The recent funding round, led by Kfund, 4 Founders Capital, and LifeX, marks a significant milestone for Banktrack. This round also saw participation from approximately twenty seasoned business angels, renowned for their expertise in founding tech companies. Additionally, support from ENISA has further bolstered Banktrack's growth trajectory.

Banktrack's journey began in 2022 when entrepreneurs David Álvarez, Nacho González-Barros, and Carlos Pérez established the company with an initial investment of €1 million. Since then, Banktrack has demonstrated remarkable progress and resilience, positioning itself as a leading solution in the realm of treasury management for SMEs and freelancers.

"The funding round will enable us to propel our growth and validate our business model in Spain throughout this year," stated co-founder Nacho González-Barros. "Once we achieve this milestone, our aim for 2025 is to expand our operations into other European countries."

This strategic approach underscores Banktrack's commitment to consolidating its position in the Spanish market while laying the groundwork for future expansion across Europe.

At Banktrack, we've recognized a genuine need for software that empowers small business owners to effectively manage their treasury, ultimately saving them valuable time. Our sole focus lies in assisting SMEs in controlling their expenses and revenues. As a result, we've deliberately omitted other complex accounting-related functionalities, as many businesses already have these needs addressed by their accounting firms. This focused approach enables us to remain highly competitive and provide a simpler, more intuitive user experience, catering specifically to the needs of our target audience.