Fernando Cabello-Astolfil and Alberto Molperes are founders of Devengo, a Spanish fintech whose goal with this round of funding is to lead the power of instant and programmatic payments across Europe. Devengo is an application that allows real-time collection of the part of the payroll that you have already worked on.
“We live in a real-time world. Payments should be too. This is just the beginning of exciting times ahead. Anything less than instant payments will be considered ancient history in the years to come. Money should not remain in limbo for one or two working days. It is not the Pareto optimum. Real-time money increases efficiency and enables the development of new value propositions,” say Devengo’s co-founders.
The funding round was led by TheVentureCity, a global venture capital fund that invests in early-stage technology companies with high-impact products from the US, Europe, and Latin America. Also participating in the seed investment were Spanish entrepreneur Felipe Navío and Chilean Leo Soto.
Youandlaw’s team advising the startup was formed by partner Pablo Casado and lawyer Isabel Gonzalo.