Meet Flanks, Startups of the Year 2024 Nominee

Hey Hackers,

Flanks has been nominated in HackerNoon's annual Startups of The Year awards in Barcelona, Spain.

Please vote for us here:

Read more about us below to understand why we deserve your vote.

Meet Flanks

Flanks is reshaping the wealth management industry by delivering an end-to-end solution to make it easy from beginning to end. Flanks enables global financial players—banks, family offices, and portfolio trackers—to streamline their operations and reduce manual processes to 0%.

Founded in 2019 and headquartered in Barcelona, Flanks combines deep expertise in wealth management and technology. Backed by €9.8 million in investment, our team is committed to driving innovation and excellence in the industry.

How Flanks achieved product-market fit

Flanks’ solid product-market fit is grounded in several critical indicators that reflect the demand and alignment between our solution and the needs of the wealth management industry.

Firstly, we’ve seen consistent growth in our client base, which includes top banks, family offices, and wealth managers worldwide. This steady demand signals that our end-to-end wealth management solution resonates well with industry challenges, especially in data aggregation and middle office taks.

Secondly, Awards and reconitions received this year: we have received recognition from several prestigious awards and top industry players, including LinkedIn's Top Startups in Spain and Barcelona for September-October 2024, and our selection by Google for their AI-first startup program in September 2024.

Another indicator is the high rate of adoption of our advanced features, including automated data quality checks and reporting capabilities. These have become essential tools for our users, enabling them to achieve higher accuracy and time savings in their daily operations.

Finally, the €9.8 million raised from investors validates the market's confidence in our vision and impact. This funding enables us to continue enhancing our solution to stay aligned with evolving industry demands, further solidifying our position as a trusted solution provider in wealth management.

The evolution of Flanks

Flanks was founded in 2019, and we quickly set out to address the needs of the wealth management sector. In 2020, we developed our Data Aggregation product and secured our first clients, marking the beginning of our journey. By 2021, we expanded our product offerings across Spain and grew our client base significantly.

Initially specialized in data aggregation for wealth managers, we recognized the need for a more comprehensive approach to address the complexities of wealth management. This realization led us to internationalize the company in 2022, positioning ourselves to serve a broader market. In 2023, we began developing our new product, Flanks Lume, which we recently launched, further enhancing our end-to-end wealth management solution.

User feedback has been instrumental in this evolution. We actively listen to our clients, and their insights have guided our development priorities. This feedback has enabled us to identify pain points and opportunities for improvement, allowing us to iterate on our product and introduce features that truly meet their needs. From the outset, we provided free demonstrations to our early clients, allowing us to test and refine our services based on their feedback. As our product became more efficient and strategically aligned with client needs, we initiated our commercialization efforts. We negotiated special agreements with our first users, which facilitated the onboarding of new clients as we gained traction in the market.

Milestones and achievements

• +100 clients spread worldwide
• +72 global employees based in Barcelona
• +39b USD assests under management
• +350 connections with financial intitutions
• +5 years servicing wealth management
• 95% coverage of the main financial entities in Europe

What Startups of The Year means to us

We’re genuinely surprised and deeply grateful for the “Startups of the Year” nomination, as well as for the attention and interest in Flanks this year. This recognition reflects the hard work of our entire team, and we couldn’t be prouder. We hope this recognition will make us increasingly visible in the industry, allowing more financial institutions to consider Flanks as their partner in making wealth management easier and more accessible for everyone. Thank you for the encouragement—it inspires us to keep pushing forward and striving for more together.

Conclusion

To wrap up, we hope this interview has given you insight into what drives us at Flanks and our vision for the future of wealth management. We’re deeply committed to simplifying and enhancing the industry, with a focus on high-quality data, 0% manual tasks, and client-centered solutions. Looking ahead, we're excited to continue pushing boundaries and setting new standards. Thank you for taking the time to get to know us—we can’t wait to see what lies ahead!

Vote for us today!