Yapily plants flag in Spain as it nears universal account coverage

Open banking infrastructure provider Yapily has officially launched in Spain after reaching 95 per cent coverage across 52 of the country’s largest banks.

The launch comes four months after Yapily raised a $51m Series B funding round from Sapphire Ventures, Lakestar, HV Capital and Latitude to fund launches in France and Spain.

As part of the launch, Yapily is building a local team on the ground, led by new country lead for Spain, Angel Salamanca, who previously led Santander’s open banking services strategy.

“With a focus on rapid growth, Spain’s fintech firms are looking for scalability, innovation and opportunities for international expansion,” said Salamanca.

“Yapily’s open banking infrastructure can provide them with all of these as well as the tools to build better products and services.”

While smaller than Plaid or TrueLayer,Yapily is growing an impressive list of clients across Europe, including wealth manager Moneyfarm and investment platform BUX.