Spanish Fintech Bnext Raises $25M for Mobile Banking Alternative

Bnext, a Spain-based fintech startup offering a mobile-first banking alternative, secured $25 million in funding in September 2019. The round was co-led by DN Capital, Redalpine, and Speedinvest, reflecting strong European investor interest in challenger banking models. At the time of the raise, Bnext had built a user base of approximately 300,000 active customers in Spain.

The company provides a mobile app that aggregates financial services and offers banking features without being a traditional bank, relying on BaaS-style partnerships for its underlying infrastructure. The funding was intended to fuel further product development, user acquisition, and potential geographic expansion. Bnext's growth underscores the broader European trend of fintech challengers leveraging banking-as-a-service infrastructure to deliver consumer-facing financial products.