Airbank Selects Yapily to Build a Financial Management Solution for SMBs
- Open Banking , Management
- 13.10.2021 06:49 pm
Airbank, a financial management solution for European startups and SMBs, has selected open banking infrastructure provider Yapily to help its users manage their finances with ease.
Airbank provides a simple financial management solution that aggregates all bank accounts in one place and delivers more control, visibility, and automation to modern finance teams. Startups & SMBs use Airbank to access bank accounts, monitor cash flow in real-time, create reliable forecasts, and make business payments.
Airbank matches bank transactions with merchant and category data to give finance teams complete visibility into revenues and expenses, thus helping make their lives easier with cash flow budgeting, forecasting, and reporting.
Yapily's API infrastructure provides Airbank users with a smooth, simple way to connect to more than 1,500 banks across the UK and Europe including Deutsche Bank, Commerzbank, Sparkassen, Volksbanken and neobanks. Airbank selected Yapily for its strong coverage in Europe, with a specific focus on Germany, France, Spain, and the UK. Yapily's European bank connectivity enables Airbank's customers to scale and grow across Europe, delivering forecast visibility anywhere they go.
The partnership with Yapily alleviates Airbank's customers from spending time and resources managing their finances - giving them direct access to all the financial and contextual data they need in one tool. Historically, most businesses created budgets and cash flow forecasts in manual spreadsheets which is time-consuming and error-prone. With Airbank, customers save time and costs to focus on value-adding business tasks.
The partnership also enables Airbank's customers to use its data enrichment platform and transaction categorisation engine to turn the raw data from bank accounts into meaningful and actionable insights. Airbank reconciles account balances, forecasts financials and helps business owners make smarter business decisions every day. Harnessing Yapily's leading open banking infrastructure, Airbank can accelerate its adoption of digital banking services.
Airbank's vision is to simplify financial management for SMBs and to create a unified platform that helps its users with the full cycle of financial management from cash flow analysis and forecasting, to accounts receivables and payables management, and more. Airbank has raised $3m seed funding from leading VCs, and counts hundreds of users in Germany, Austria, France, Spain and the UK.
Open Banking has enabled smooth integrations with banks, which we utilize to offer richer banking and payments experiences for our users. We're building a business banking solution that connects all your financial accounts in one place. Our partnership with Yapily gives users a smooth and simple way to connect to thousands of banks in Europe, unlocking real-time insights into their cash flow. We eliminate the pains of finance admin so business owners can focus on what’s really important — growing their business.
Christopher Zemina, Co-founder and CEO of Airbank
Airbank helps simplify the daily routine of banking and finance management for small and medium sized businesses. By leveraging Yapily's open banking infrastructure, Airbank can provide actionable insights to businesses - at a time where it's needed. As a small yet fast growing company, Yapily is committed to supporting the SMB community and we are excited to see how Airbank delivers the benefits of open banking to many businesses across Europe.
Comment by Chris Scheuermann, Commercial Lead DACH at Yapily
Airbank is the next-generation multi-banking platform for startups and SMBs that puts all bank accounts into one place. Airbank offers bank account aggregation, cash flow management, multi-user permissions, and single sign-on, aiming to become the leading B2B payments provider for small and growing businesses. Incorporated in Berlin, Germany, Airbank is backed by leading entrepreneurs and investors. To learn more, visit joinairbank.com.
Yapily is an open banking infrastructure provider, allowing companies to seamlessly access financial data and initiate payments. Designed and built for Open Finance, Yapily enables better and fairer financial products for everyone. The company has raised $69.4m in funding to date, and provides infrastructure for industry leaders including American Express, Intuit Quickbooks, Vivid, Moneyfarm and BUX. Headquartered in London, UK, Yapily employs over 100 people and continues to scale rapidly.