French Fintech Powens Acquires Spanish EMI Unnax for Open Finance Expansion

Powens, a French fintech focused on open finance, completed the acquisition of Unnax, a Spanish electronic money institution (EMI) that provides open finance and embedded banking platforms. The deal was approved by Banco de España, forming the new Powens Group. Unnax contributes its EMI license and embedded banking technology, while Powens brings its open finance aggregation platform and European client base.

The combined entity aims to serve banks, fintechs, and enterprises across Europe and Latin America with a unified open finance and embedded banking offering. PSG Equity backs the enlarged group. The merger positions Powens Group as a significant player in the European BaaS and embedded finance market, combining regulatory licensing with technology infrastructure across multiple geographies.