Madrid-based Devengo has closed a €2 million pre-Series A round to scale its account-to-account payment infrastructure. The financing combines debt and equity, aligning capital efficiency with a regulated infrastructure roadmap. The company positions the raise as a step toward broader instant payment coverage across the Single European Payments Area.
Investment and Participants
The round brings Bankinter, Banco Sabadell, and Demium into Devengo’s cap table as lead investors. Existing backers TheVentureCity, Wayra, and several business angels also participated, signaling continued confidence in the thesis. Management says bank participation validates the product’s relevance to core payment rails and strengthens the balance sheet for expansion.
Market Context
Devengo’s funding lands as the EU Instant Payments Regulation accelerates real-time euro transfers across member states. The period has also seen activity among European infrastructure players, including Open Payments in Sweden and Payrails in Germany. Additional moves by Two in Norway and UK players Navro and Yaspa underscore a crowded but expanding market for programmable payments.
Product and Infrastructure
Founded in 2020, Devengo offers instant A2A solutions built around an API-first architecture. A direct technical connection to Iberpay reportedly reduces reliance on intermediary banks and aims to improve control, speed, and cost for enterprise clients. The platform targets automatic, instant, and programmable transactions that can be embedded into multi-sector workflows.
Strategic Positioning
The company argues that direct clearing-house connectivity is a differentiator in a segment long dominated by Northern European fintechs. Management highlights specialized regulatory expertise as another pillar of the value proposition, especially as compliance demands rise with real-time rails. The funding will be used to deepen operational readiness while expanding partner and client integrations.
Competitive Landscape
While the €2 million raise is modest relative to some peers, Devengo frames it as right-sized for capital-efficient infrastructure milestones. Investors point to product execution and a clear integration path as drivers of commercial traction. The timing also coincides with enterprises reassessing payment stacks as instant settlement and interoperability become baseline expectations.
Investor Perspective
Andrés Dancausa of TheVentureCity said Devengo’s API-first model and execution track record make it a natural partner for instant payments in the SEPA zone. He added that the company’s understanding of modern business requirements positions it to support infrastructure modernization. This view aligns with Devengo’s goal to support programmable payments that reduce operational friction and improve cash conversion.
Roadmap and Regulation
Proceeds will support geographic expansion across SEPA and the early adoption of new protocols. Devengo plans to incorporate Request to Pay and instant international transfers as regulatory and network capabilities mature. The company expects these features to help enterprises consolidate fragmented flows and align with evolving compliance standards.
Management View
Co-founder and CEO Fernando Cabello-Astolfi said bank participation signals confidence in Devengo’s value proposition and capital structure. He noted that the company intends to keep focusing on intelligent and automated payment operations that unlock new business models. The team credits clients and partners for helping validate its infrastructure choices and delivery cadence.
Devengo’s raise reinforces momentum behind instant A2A infrastructure as Europe standardizes real-time payments. With new bank investors, Iberpay connectivity, and an API-led approach, the company is betting on programmable settlement as the next enterprise baseline. Execution against SEPA expansion and next-generation protocols will determine how much of that opportunity it can capture.