Devengo
Devengo is a Madrid-based, Bank of Spain-authorized Payment Institution that provides a REST API for instant account-to-account payments across 36 SEPA countries, serving fintechs, lenders, insurtechs, and marketplaces with pay-ins, payouts, and verification services.
- Company typePrivate
- Founded2022
- HeadquartersMadrid, Spain
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Devengo does
Devengo is a Madrid-based B2B payment infrastructure provider operating as a Payment Institution authorized and regulated by the Bank of Spain (Entity 6940) under PSD2. The company offers a unified REST API that enables businesses to orchestrate instant account-to-account (A2A) payments across 36 SEPA countries without card intermediaries, connecting directly to Iberpay for SCT Inst processing and to Modulr Finance B.V. for virtual IBAN issuance. Its product suite comprises five modules: Accounts Creation, Push Payments, Pull Payments (Request-to-Pay), Valitic (sub-one-second account holder verification via Iberpay), and Verification of Payee (VoP).
The platform differentiates through a proprietary Smart Retry System that delivers a 99.7% three-month payment delivery ratio and an 88%+ instant payment ratio, plus ISO 27001 and GDPR compliance. Target verticals include fintechs, lending platforms (salary-on-demand, micro-loans), insurtechs (instant claims payouts), and marketplaces (mass seller payouts). Named customers include Jobandtalent (enterprise payroll for 12,000+ workers across three Euro-zone countries), Barkibu (pet insurance claims), Payflow (wage advances), and several other fintech startups.
Devengo monetizes via customized transaction-based pricing tailored to each client's risk profile, use case, and expected monthly volume, with no publicly disclosed fixed rates. Total disclosed funding is approximately €3.2 million across a 2022 seed (€1.2M led by TheVentureCity) and a November 2025 pre-Series A (€2M involving debt and equity from Bankinter, Banco Sabadell, TheVentureCity, and Wayra). The company has 11-50 employees and operates a self-service API-first go-to-market with sales-assisted enterprise pricing.
Devengo firmographics
Firmographics- Name
- Devengo
- Legal name
- DEVENGO S. L.
- Website
- https://devengo.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Devengo is a Madrid-based, Bank of Spain-authorized Payment Institution that provides a REST API for instant account-to-account payments across 36 SEPA countries, serving fintechs, lenders, insurtechs, and marketplaces with pay-ins, payouts, and verification services.
- Ownership category
- akta.pro rank
Devengo industry classification
Industry- Product category
- Payment Infrastructure API
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Instant Payment Scheme Connectivity & Processing (e.g., FedNow, SEPA Instant, Faster Payments) (FSAMAHAD)
- akta.pro secondary industries
- A2A Payouts & Disbursements (FSAMAFAG), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), A2A Collections & Direct Account Funding (FSAMAFAH)
Keywords
Where Devengo is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices1 record
Markets served
Devengo business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Others
Revenue model
- Payment Transaction Fees: Customized transaction-based pricing tailored to each client's business profile, determined by risk profile (business sector, jurisdiction, compliance analysis), use case (type of operations, countries, services required), and expected volume (number and frequency of monthly transactions). No fixed rates; personalized proposals are prepared for each client.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Customized enterprise pricing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Devengo product offering
Product offeringCore offering
Devengo provides a unified REST API for orchestrating instant account-to-account (A2A) payments across 36 SEPA countries, enabling businesses to create accounts, initiate push and pull payments, and verify account holders. The platform connects directly to Iberpay for SEPA Instant Credit Transfer (SCT Inst) processing, delivers 24/7 settlement in under 10 seconds, and offers integrated Valitic verification and VoP services. Devengo operates as a Payment Institution authorized by the Bank of Spain.
Product overview
Devengo is a Payment Service Provider offering a unified A2A (account-to-account) payment infrastructure platform through a REST API. The platform consists of five interconnected products: Accounts Creation (IBAN/virtual IBAN provisioning), Push Payments (instant payouts and pay-ins via SEPA SCT-Inst), Pull Payments (Request-to-Pay functionality), Valitic (instant account holder verification via Iberpay), and VoP (Verification of Payee). Devengo operates in 36 EU countries through SEPA, providing 24/7 instant payment services with a reported 99.7% delivery success rate and 98.7% instant payment ratio.
Differentiator
Problem solved
Functional benefit
Products and services
- Accounts Creation
Quantifiable outcome
- 99.7254% payment delivery success rate (3-month average)
- +2 more outcomes
Companies that use Devengo
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles4 records
Devengo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Devengo partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Modulr Finance B.V.coreModulr Finance B.V. is Devengo's partner for account issuance and management services. Based in the Netherlands and regulated by DNB as an Electronic Money Institution (EMI), Modulr provides the underlying account infrastructure that enables Devengo to offer virtual IBANs and payment accounts to its clients across the EU.
- IberpaycoreIberpay operates Spain's national payment infrastructure and provides the SEPA payment scheme connections that enable Devengo's instant payment services. Devengo has direct API connections to Iberpay for processing SCT Inst transactions and accessing Valitic for account verification services.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Devengo competitors and assessment
Company assessmentDirect peers
- TrueLayer: TrueLayer is a UK-based A2A open banking payments provider offering PIS and PISPs capabilities to merchants and platforms via API. Directly comparable to Devengo in delivering instant account-to-account payment infrastructure with a developer-first GTM, though primarily UK/IE focused.
- Yapily: Yapily provides open banking APIs enabling account-to-account payments and data across Europe. Competes with Devengo in the A2A infrastructure layer, serving similar fintech, lending, and marketplace customers via REST API.
- Token.io: Token.io is an A2A payment network and open banking platform operating across the UK and EU. Directly comparable in offering bank-payment-initiation and instant payout infrastructure for fintechs and enterprises.
- Volt Open Banking: Volt operates an A2A open banking payment network across Europe with a focus on instant payments. Comparable to Devengo in targeting merchants and platforms seeking to replace card rails with direct account-to-account transfers.
- Banked: Banked provides an A2A payment network and open banking API for instant account-to-account payments. Comparable product offering to Devengo's Push/Pull Payments and target customer overlap in fintech and marketplaces.
Broad incumbents
- Tink (Visa): Tink, owned by Visa, is a pan-European open banking platform providing account-to-account payments, data, and verification. Comparable in A2A PISP capabilities, but backed by a global network operator with broader product suite and larger sales reach.
- Plaid: Plaid is a global data and payments platform expanding A2A payment initiation capabilities into Europe. Comparable in serving fintechs and platforms with developer-first payment APIs, though primarily known for bank connectivity and account verification at much larger scale.
Emerging players
- Form3: Form3 is a UK cloud-native payment processor offering A2A, Faster Payments, and SEPA connectivity to banks and fintechs via API. Partial overlap with Devengo in real-time payment infrastructure, with stronger bank-tier enterprise footprint.
Others
- Iberpay: Iberpay is Spain's national payment scheme operator providing SEPA and SCT Inst clearing plus Valitic verification. Not a competitor but a critical infrastructure partner — Devengo connects directly to Iberpay for its core rail access.
- Modulr: Modulr is a UK/EU EMI providing account issuance and payment infrastructure to platforms and fintechs. Functions as a partner layer for Devengo's IBAN/Accounts Creation product, rather than a direct competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Devengo social profiles
Digital presenceDevengo compliance and trust
Trust signalCompliance3 records
Devengo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Devengo leadership team
Management profileNumber of profiles
Profiles3 records
Devengo funding detail
Funding detailFunding overview
Funding rounds6 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Devengo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Devengo
What does Devengo do?
Devengo provides a unified REST API for orchestrating instant account-to-account (A2A) payments across 36 SEPA countries, enabling businesses to create accounts, initiate push and pull payments, and verify account holders. The platform connects directly to Iberpay for SEPA Instant Credit Transfer (SCT Inst) processing, delivers 24/7 settlement in under 10 seconds, and offers integrated Valitic verification and VoP services. Devengo operates as a Payment Institution authorized by the Bank of Spain.
Is Devengo a public or private company?
Devengo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Devengo founded?
Devengo was founded in 2022. It employs 11 to 50 people.
Where is Devengo based?
Devengo is headquartered in Madrid, Spain, in the Europe region.
How does Devengo make money?
One revenue line is on record: payment Transaction Fees.
Who are Devengo's main competitors?
Direct peers on record are TrueLayer, Yapily, Token.io, Volt Open Banking and Banked. Broad incumbents are Tink (Visa) and Plaid. Form3 is listed as an emerging player. Others are Iberpay and Modulr.
Does Devengo have an API?
Yes. REST API for initiating and managing instant A2A payments. The API enables businesses to orchestrate money movement including account creation, push payments, pull payments, and account holder verification. Features include webhooks (secured, signed, actively monitored), sandbox and production environments, and integration accessible via API reference documentation. Companies can go from sandbox to production within 10 days. Developer documentation is at docs.devengo.com.
What industry is Devengo in?
Devengo's product category is Payment Infrastructure API. Its primary akta.pro industry code is FSAMAHAD, Instant Payment Scheme Connectivity & Processing (e.g., FedNow, SEPA Instant, Faster Payments), with a secondary code of FSAMAFAG, A2A Payouts & Disbursements. Its NAICS code is 52232 and its SIC code is 6099.