Hubuc, a Barcelona, Spain-based embedded finance platform provider, raised $10M in Seed funding.
The round was led by WndrCo and Runa Capital, with participation from Y Combinator, Village Global, Sujay Jaswa, John Lilly, Immad Akhund, Lars Fjeldsoe-Nielsen, Bo Jiang, John Bautista, and Anthony Saleh.
The company intends to use the funds to build a compliance team, and expand its current presence in Europe. The additional capital will also help further product development, streamline customer implementation processes and focus on boosting the go-to-market strategy.
Founded in 2021 by Hasan Nawaz (CEO) and Ignacio Javierre (COO), Hubuc provides an API that allows any business in any industry to add managed financial services, from bank accounts to payments, virtual and physical cards as well as real-time FX rates and digital wallets, to their product offering.
In nine months since launch, the company has scaled its operations into 58 territories and has secured long-term customer contracts worth over $4M across multiple industries from travel booking payments to marketing and media spend and employee benefits. Costumes including Wagesteam, PayFlow, OkTicket and Declarando. In September, Hubuc partnered with Mastercard to enable more businesses to offer payments and card services, and it became an official partner of the Mastercard Fintech Express program.
FinSMEs
07/03/2022