Hubucthe on-demand financial services platform, managed to raise about 10 million dollars (8.8 million euros) in a new one led by US investors, among which the funds WndrCo Y Capital Runethe Silicon Valley accelerator Y Combinator, Global Village and a group of independent investors, including the former CEO of Mozilla and the former vice president of Uber.
With this new injection of funds, the company’s plans will focus on using part of those resources to open an operations center in Barcelona, so that those workers who wish to work in person can do so without any problem. This is because, at present, the 30 employees of the fintech work remotely and from different parts of Europe. Following the round of financing, the also added to its staff of shareholders Jeffrey Katzenberg, co-founder of Dreamworks Animations, which will act as CEO of WndrCo.
This is not the first time that Hubuc has received external financing, since in 2020 it obtained €350,000 by investors like SeedRocket 4Founders, Partners or Reus Capital.
Hubuc, the “Amazon” of the financial sector
Hubuc is a startup that was founded in Barcelona by Ignacio Javierre and Hasan Nawaz at the end of 2019, with the aim of democratizing access to banking services. In the creators’ own words, the business idea is “to become the of the financial sector”.
To do this, the Catalan company offers customers a platform with which they can introduce their own payment or financial management system within their operations.
“Hubuc is an integrated financial power behind those brands that want to offer all kinds of financial services. From a single API and with just one contractHubuc takes care of covering everything related to compliance and provides you with access to banking and fintech services so that companies can create new sources of incomeincrease customer loyalty and improve the user experience»reads in the description of the web.
Cards with tailored services
Among its most prominent clients is okticketa platform by which the employees of a company can scan the receipts that they want to pass as a business expense and that Hubuc has simply turned into a card with which they can pay these expenses directly. Thanks to this technology, that card can only be used, for example, in restaurants and during business hours.
Likewise, Hubuc works together with Statinga kind of online agency for freelancers which now has a card so that your customers can pay your work expenses directly with her.
Also, they have a agreement with master card Y Visa to be able to issue these types of cards. “Our vision is to become the platform that facilitates to any company access to financial services and you can integrate into your products«, synthesized from Hubuc. “We allow companies to give some functionalities to the much more powerful card than the one offered by a conventional bank. Us we have the capacity to issue the card and parameterize its useas well as the possibility of issuing an IBAN account: from here, the client takes these two elements and uses them as he wishes».
The startup emerged as a response to a trend that has been generated in the market, where non-financial companies are creating their own banking services. Some examples are Uber, with UberMoney; Shopify, with his Shopify DebitCard; either El Corte Inglés, which was one of the first companies to offer its own card.
Photo: Hubuc
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