Unnax, a start-up specializing in online financial services software, has launched an aggressive growth plan.
The Barcelona firm plans to double in size: going from 3.5 million euros in 2021 to entering more than 6 million this year. “We want to gain new clients and expand our presence abroad. We are going to enter France and Italy in addition to increasing our presence in Spain and Mexico, countries that now contribute 80% and 20%, respectively," says Julián Díaz-Santos, founder of the business together with Jordi Pérez.
Like the vast majority of start-ups, Unnax supports its growth with financing from venture capital funds. Since its birth in 2016, it has raised around 10 million euros, 7 of which were obtained at the beginning of this year.
But the money that Unnax has obtained this year is insufficient to undertake its expansion plans. "In September, we will open another round of financing to raise an additional 25 million euros." The founders indicate that they need this money because this year, in addition to growing organically, they also want to expand through acquisitions of competing companies.
Unnax wants to become the reference company in the sale of online banking services. "We develop technology that allows our clients to grant small consumer loans, validate the digital identity of users, issue current accounts and make payments in real time on an international scale." The start-up has the endorsement of the Bank of Spain, which has granted it an Electronic Money Institution license.
Currently, the company works for about 200 companies, among which are Cofidis, ID Finance or Clicars.
The technology is developed by a team of 60 people. 80% are located at the headquarters, in l'Hospitalet de Llobregat, and 20% work in the delegations of Madrid and Mexico.
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