Flinks, a Canadian fintech that provides banks and other fintechs with a data gateway platform that enables digital onboarding, risk modeling, and insights, announced earlier this week it secured $1.75 million through its latest seed funding round. The company reported that its partners now include National Bank, Luge Capital (by extension: Caisse de dépôt et placement du Québec [CDPQ] and Desjardins Group, two of the fund’s major investors), Innostart Capital, Panache, iNovia Capital and Conconi Growth Partners.
According to Yves-Gabriel Lebœuf, President and CEO of Flinks, this investment is part of a first round of financing that Flinks will use to accelerate growth. Our next step is to market an AI-powered risk assessment solution based on the transaction habits of end-users and the health of their financial accounts.
“Our ambition is to expand our workforce to beyond 80 employees. We will also use the funding to expand beyond being an API provider, and are currently developing Flinks Score, which can predict the creditworthiness of customers. Targeted to lenders varying from retail to mortgage, the platform will tie a customer’s loan payments to their cash flow situation, predicting the best method for paying back that loan and by how much.”
Speaking about the investment round, David Furlong, Senior Vice-President of Artificial Intelligence, Venture Capital, and Blockchain at National Bank, stated:
“In today’s world of accelerated digital transformation, National Bank strives to be at the forefront by offering its clients innovative solutions that are convenient, simple and efficient. It is very important for us to support environments that stimulate innovation and have a positive impact on customer experience. That is why we are pleased to join forces with Montreal-based Flinks.”
Lebœuf also shared:
“We’ve managed to quickly build close ties with Canadian financial institutions, giving us access to the partners and capital we need to really speed up the pace of innovation at Flinks. We’re very fortunate to be a part of this adventure with National Bank and Luge Capital.”
Karim Gillani, General Partner of Luge Capital, then added:
“The Flinks team has built a world-class platform that has become essential infrastructure for its clients. The team’s ambition is to apply its technology in new industries and across many regions. We’re delighted to support their mission.”