Banktrack accelerates its growth by extending its funding round to two million

More resources to accelerate the growth of Banktrack, a startup based in Barcelona that has created software to help SMEs, freelancers, and emerging companies to control their treasury in real time, one of the most critical points that companies must face for their day-to-day operations. Founded in 2022 by entrepreneurs David Álvarez ---from USB---, Nacho González-Barros ---founder of Infojobs and Mailtrack--- and Carlos Pérez ---with experience at ING and OpenBank---, Banktrack was born with an initial investment of one million euros and has now extended its funding round to two million euros.

The funding contribution has been led again by Kfund, 4 Founders Capital, and LifeX. Likewise, more than twenty business angels have trusted the company, most of them with experience in founding successful technology companies, such as the founders of Holded ---Javier Fondevila and Bernat Ripoll---, as well as with the support of ENISA.

"The funding round will allow us to boost our growth to validate the business model in Spain this year. Once achieved, the goal in 2025 will be to start operating in other European countries," says Nacho González-Barros, co-founder of Banktrack.

In this sense, the capital raised will be used to improve the functionalities of the treasury monitoring software, as well as to expand the customer service and sales team, with the aim of accelerating growth in Spain before making the leap to other international markets. So far, Banktrack has managed to build a portfolio of 500 clients and its goal is to reach 2,000 clients by the end of this year.

"We have detected that there is a real demand for software that allows small business owners to manage their treasury much better, thus saving them time. At Banktrack, we are focused solely on helping SMEs control their expenses and income, so we have dispensed with other complex functionalities related to accounting that many do not need because their agencies already handle them. Precisely the fact of focusing on a specific area is what allows us to be so competitive and offer a much simpler and more intuitive experience to users," argues González-Barros.

The computer tool developed by the Barcelona startup allows real-time and simple control of present and future income and expenses and offers a financial alert service via WhatsApp and email, the company points out.