Devengo Raises €2M Pre-Series A to Expand Instant Payment Platform Across Europe

Spanish fintech Devengo has closed a €2 million pre‑Series A funding round as it accelerates its ambitions to become a leading provider of account‑to‑account (A2A) payment infrastructure across Europe. The round, which combines both debt and equity financing, brings major banking partners and established fintech investors into Devengo’s capital structure — a move the company says validates its market positioning and strengthens its foundation for scaling operations across the Single European Payments Area (SEPA) zone.

The financing was led by traditional financial institutions and innovation‑focused investors, with Bankinter, Demium and Banco Sabadell emerging as key contributors to the round. These lead investors were joined by continued support from existing backers including TheVentureCity, the global venture firm, and Wayra, the corporate venture capital division of Telefónica, along with several private business angels.

Devengo’s CEO and co‑founder, Fernando Cabello‑Astolfi, said the participation of established banks in the company’s capital is “a clear signal of the strength of our value proposition” and helps reinforce the solidity of Devengo’s financial structure. The involvement of both traditional banking players and venture capital investors reflects a strong endorsement of the company’s strategy to modernize payment infrastructure in a rapidly evolving European marketplace.

Founded in 2020 and headquartered in Madrid, Devengo has built a platform that enables businesses to integrate instant A2A payments directly into their products and services. By adopting an API‑first architecture, Devengo connects directly to Iberpay, Spain’s national payment clearing house, which allows it to facilitate instant, programmable, and secure payment transactions without relying on traditional banking intermediaries. This direct connectivity is a cornerstone of the company’s value proposition, offering faster settlement, greater operational control, and improved efficiency for clients operating across multiple sectors.

Devengo’s technology is designed for multi‑sector use, spanning industries such as insurance, lending, online gaming, real estate, e‑commerce and professional services. With its infrastructure, companies can embed account creation, payment verification, push and pull payment capabilities, and other next‑generation payment services into their workflows, helping them reduce costs and streamline processes. The model positions Devengo at the forefront of Europe’s shift toward instant, real‑time payments — a trend that has been accelerated by regulatory initiatives such as the EU Instant Payments Regulation.

Lead investors emphasized the strategic nature of the funding. Bankinter’s participation represents a broader trend of traditional financial institutions seeking partnerships with agile fintechs to access cutting‑edge technology and extend their reach in digital payments. Demium’s involvement underscores its focus on early‑stage ventures with strong technological differentiation, while Banco Sabadell’s backing signals confidence in Devengo’s ability to deliver tangible value across European markets.

The continued support of TheVentureCity and Wayra points to the company’s strong early traction and potential for scalable growth. Investors noted Devengo’s execution capabilities and deep regulatory understanding as key strengths that position it to capture opportunity as Europe standardizes real‑time payments across the SEPA zone.

Proceeds from the €2 million round will be deployed to accelerate Devengo’s geographic expansion throughout Europe, deepen its product suite, and support integration of next‑generation payment protocols. Among the features Devengo plans to roll out are Request to Pay and instant international transfers, both of which are expected to gain traction as regulatory frameworks evolve and demand for seamless cross‑border payments increases.

Devengo’s direct access to Iberpay — a unique differentiator compared to many competitors that rely on traditional banking rails — combined with its API‑first strategy makes its platform an appealing choice for companies looking to embed modern payment capabilities without the friction of legacy systems. In doing so, Devengo aims to capitalize on the growing demand for programmable payments and real‑time settlement that are becoming industry standards within Europe and beyond.

As the company prepares for further growth, including potential future funding rounds, it is well‑positioned to play a significant role in the modernization of European payments infrastructure. With a blend of strategic investors, innovative technology and a clear market opportunity driven by regulatory change and digital transformation, Devengo is emerging as a noteworthy contender in the evolving landscape of instant payments.