Flinks launched in April 2017 to help fintechs and financial institutions connect customer bank accounts, verify balances, and access transaction histories, later expanding to derive insights from that data. The company serves clients in lending, investment, and banking, working primarily with smaller financial institutions while maintaining relationships with some of Canada’s Big Five banks. Flinks has tracked higher volumes of loan requests and account openings during the COVID-19 pandemic. It is developing a wealth-management aggregation product that is currently in beta and plans to expand into new verticals including wealth management, insurance, government data, and potentially telecom data. The startup currently has small-scale U.S. operations and two Canadian locations (Montréal and Toronto); it intends to properly launch and scale in the U.S., targeting a San Francisco or New York office. Flinks plans to use the new funding to grow its U.S. presence and double its current ~65-person team. Flinks is a Montreal-based fintech that provides an API to validate account ownership, verify balances, and access transaction histories for fintechs and financial institutions. The company works with clients including TransferWise, ATB Financial and Merchant Advance Capital. Flinks is expanding beyond API services and is developing Flinks Score, a risk-scoring product that predicts consumer default and ties loan payments to cash-flow to assess creditworthiness for lenders from retail to mortgage. The firm says the score accesses consumer financial data not captured in traditional credit scores to improve prediction accuracy. Flinks plans to use funding to hire talent and scale its platform into new markets such as Australia and Europe, citing regulatory changes in the EU that will open bank data to third parties. Financially, Flinks recently raised a $1.75M seed and previously raised a $500K pre-seed in July 2017. Flinks provides an API that lets FinTech companies validate account ownership, verify balances, and access transaction histories for Canadian bank accounts. Launched in April 2017, the company is focused on serving Canadian FinTechs that cannot rely on U.S. data providers. It currently has an eight-person team and counts customers including Acceo and Dwello. Flinks processes roughly 1,000 validations per day and has set a goal of reaching one million end users by the end of the year. The company plans to expand its API with more data-driven capabilities such as fraud-risk assessment and credit-scoring signals to improve financial inclusion for millennials. Recent funding will be used to grow the team and focus on sales in the Canadian market.

Total raised

$14M

Funding rounds

4

Latest round

Series A

Latest activity

Jul 2020