# Devengo, S.L.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/devengo-s-l

- Industry: Financial Services
- Headquarters: Madrid, Spain
- Website: www.devengo.com
- Total disclosed funding: $1.2M
- Latest round: Seed (Nov 22, 2022)
- Investors on record: 2

## About

Founded in 2019 in Madrid, Spain, Devengo, S.L. is a financial technology firm specializing in innovative payment solutions that facilitate instant account-to-account (A2A) payments across Europe, enhancing transaction efficiency for businesses. Devengo, S.L. focuses on providing advanced payment solutions. Led by CEO Fernando Cabello-Astolfi, the company has completed 3 deals, with its most recent funding round occurring on November 22, 2022. The firm raised EUR 1.2 million in Seed funding, led by TheVentureCity, and has not reported any changes in business strategy or structure since its inception.Devengo S.L. specializes in providing payment solutions that streamline instant account-to-account (A2A) payments for businesses operating across 36 countries in the European Union. Their primary service is a sophisticated API that facilitates direct, bidirectional payments—enabling both push payments initiated by the payer and pull payments initiated by the payee. Devengo's offerings include the creation of accounts with International Bank Account Numbers (IBANs) and virtual IBANs, which enhance transaction security, cost efficiency, and payment tracking. The API is designed for easy integration, allowing clients to automate processes such as real-time payouts, payment requests, and account verifications. The client base ranges from fintech companies to enterprises seeking to optimize their payment systems, addressing use cases that require rapid and secure money movement.For the year 2023, Devengo reported a revenue of EUR 325,634.9. The company's EBITDA for the same year was reported at EUR -923,239.8. The revenue model is primarily based on transaction fees generated from their instant payment services, benefiting clients by facilitating cash flow management and rapid transaction execution.Following the Seed funding round in November 2022, which raised EUR 1.2 million led by TheVentureCity, Devengo plans to utilize the funds to support more companies in leveraging real-time payments. The company is likely to introduce new products aimed at enhancing its payment services and expanding its presence in additional European markets to further enhance transaction efficiencies.

## Funding rounds

- Seed, Nov 22, 2022, $1.2M — Wayra, TheVentureCity

## Investors

- Wayra (https://capitalatlas.ai/funds/wayra) — Seed
- TheVentureCity (https://capitalatlas.ai/funds/theventurecity) — Seed