Unnax is a provider of Open Banking solutions that, through its APIS portfolio, allows companies to obtain user banking data, it also enables the payment process and moves money in an intelligent way. Among the services that derive from the latter are “anti-money laundering” and “know-your-customer” checks.
The solutions designed by Unnax allow companies to use this information, for example, to make financial risk assessments, to make payments and automate money movements, and to verify the identity of individuals on the internet and prevent fraud. It is a B2B company and its main customers are usually companies with a high degree of transactionality that must manage significant amounts of money, such as loan and money transfer providers. As an identifier, Unnax can be considered a ‘Banking as a Service’ service provider, which refers to those companies that offer unbundled banking services without being banks themselves.
According to the company’s creators, Julián Díaz-Santos Hernández and Jordi Pérez Rosselló, Unnax is one of the few companies in the sector that “offers a ‘technological platform that covers all the needs of clients in terms of payment services, account information and AML and KMC”.
Currently, Unnax operates in Spain, Portugal, Poland, Italy and the Dominican Republic.
THREE ROUNDS OF INVESTMENT AND A SUCCESSFUL PORTFOLIO
The company has carried out three investment rounds with which it has obtained a battery of funds that it has invested in two areas. On the one hand, in human capital, and on the other, in regulation.
This is due to the skill with which it operates in the online payment services sector through its human team, and because of the different regulatory guarantees necessary for the development of its activity.
Looking to the future, Unnax is considering landing in other European countries and consolidating the “Market Leader” category in the PSD2 and Open Banking space in Spain.