Devengo

# High-Level Overview

Devengo is a Spanish fintech company that provides account-to-account (A2A) payment infrastructure through an API-first platform.[1][2] The company enables businesses to automate payment operations—including account creation, money transfers, and real-time payouts—across multiple sectors including insurance, lending, e-commerce, gaming, and real estate.[2] Rather than operating as a bank, Devengo functions as a Payment Service Provider (PSP) specializing in streamlining B2B payment processes with features like atomic transactions, smart retries, and webhook notifications.[1][3]

Founded in 2019 and based in Madrid, Spain, Devengo has positioned itself as a pioneer in instant payments infrastructure within the SEPA zone.[2] The company recently closed a €2 million pre-Series A funding round combining debt and equity, with participation from banks entering its capital structure—a signal of validation from traditional financial institutions.[2] With approximately 19 employees, Devengo operates as a lean, technically-focused organization solving complex backend problems in payment processing.[6]

# Origin Story

Devengo was founded in 2019 by Fernando Cabello-Astolfi (CEO and Co-founder) and team members drawn from diverse technical backgrounds.[2] The founding team's journey through sectors including solar energy, HR tools, and interactive platforms led them to fintech, where they recognized the critical importance of backend infrastructure and the logical-mathematical problems inherent in moving large volumes of money efficiently.[4] This technical foundation shaped the company's DNA: solving complex problems through systematic methods, exhaustive testing, and architectural optimization rather than adopting pre-established trends.[4]

The company's early positioning benefited from Spain's payment infrastructure landscape. Devengo established a pioneering direct technical connection with the Iberpay clearing house, eliminating dependence on traditional banking intermediaries and providing differentiated access to the national payment system.[2] This early technical moat, combined with specialized regulatory knowledge, enabled rapid traction across expanding sectors.

# Core Differentiators

• API-first architecture: Devengo's platform is purpose-built for developers, emphasizing simplicity and integration ease rather than traditional banking interfaces.[2][3]

• Direct clearing house access: The company's direct connection to Iberpay—Spain's national payment system—bypasses traditional banking intermediaries, offering greater efficiency, control, and speed.[2]

• Multi-sector infrastructure: Unlike point solutions, Devengo serves insurance, lending, gaming, real estate, e-commerce, and services sectors with a unified platform.[2]

• Technical rigor: The team prioritizes exhaustive testing, monitoring automation, and architectural optimization to minimize errors in a system where "any unwanted situation has money as the main actor."[4]

• Instant payment capability: The platform delivers real-time, automated, and intelligent A2A payments—increasingly critical as EU instant payment regulations accelerate.[5]

# Role in the Broader Tech Landscape

Devengo operates at the intersection of two powerful trends: EU regulatory acceleration around instant payments and the modernization of European payment infrastructure away from legacy banking systems.[2][5] The company's timing is strategic—as regulators mandate faster payment settlement and businesses demand real-time cash flow visibility, traditional banking infrastructure becomes a bottleneck rather than an asset.

The company's positioning as a PSP rather than a bank reflects a broader ecosystem shift: specialized infrastructure providers are replacing monolithic financial institutions for specific use cases. By focusing exclusively on A2A payments and offering direct API access, Devengo captures value from businesses that need payment rails without the overhead of full banking relationships.

The entry of banks into Devengo's capital structure signals institutional recognition that fintech infrastructure companies are becoming essential partners in payment modernization rather than threats to be ignored.[2] This validates the thesis that European payment infrastructure will increasingly be built on specialized, API-first platforms rather than traditional banking rails.

# Quick Take & Future Outlook

Devengo is positioned to become a foundational infrastructure layer for instant payments across Europe, particularly as SEPA instant payment adoption accelerates and businesses demand real-time settlement capabilities.[2] The company's technical depth, regulatory expertise, and direct clearing house access create defensible advantages that are difficult for competitors to replicate quickly.

The next phase likely involves geographic expansion beyond Spain into broader SEPA markets, sector-specific vertical solutions (e.g., specialized payment flows for insurance or lending), and potentially becoming an acquisition target for larger fintech platforms or traditional payment processors seeking modern infrastructure. As EU regulations tighten around payment speed and transparency, companies like Devengo that have already solved these problems at scale become increasingly valuable to the broader ecosystem.