Devengo

Devengo is a financial technology company headquartered in Madrid, Spain, that provides a robust Application Programming Interface (API) for businesses to integrate real-time payments into their operational processes. Founded in 2019 by Fernando Cabello-Astolfi (CEO) and Alberto Molpeceres (COO), the company enables its clients to programmatically automate the creation of bank accounts, send and receive funds, and verify account holders instantly within the Single Euro Payments Area (SEPA). The firm's business model is primarily usage-based, centering on API calls rather than a traditional take rate on transactions.

The founders, Cabello-Astolfi and Molpeceres, first met in 2012 and bonded over a shared passion for fintech while working on separate ventures. Cabello-Astolfi is a serial entrepreneur with a background in economics from the London School of Economics; he previously founded and successfully exited Aplazame, a fintech firm sold to WiZink bank in 2018. Molpeceres has a technical background in computer science and extensive experience in launching startups, including the consultancy Linking Paths and Besepa. Their combined expertise—Cabello-Astolfi's visionary thinking and Molpeceres' technical focus—forms the foundation of Devengo's strategy.

Initially, Devengo launched in February 2020 as a salary-advance application, a B2B service allowing companies to offer employees early access to their earned wages. However, in 2022, the founders strategically pivoted the business to focus on the underlying payment infrastructure. This transition evolved Devengo into its current form: a payment institution licensed by the Bank of Spain, with a direct connection to the clearing house, a capability historically reserved for banks. This direct integration allows Devengo to offer superior success rates and control over the entire payment process, bypassing dependencies on traditional banking services.

Devengo serves a diverse B2B clientele across various sectors, including payroll companies, lenders, crypto firms, and acquirers. The core product is an API that facilitates atomic, real-time, account-to-account (A2A) payments. Its features include the ability to create virtual IBANs, execute mass payouts, manage incoming funds for reconciliation, and instantly verify account holder details through services like Valitic. The company emphasizes security and reliability, holding an ISO 27001 certification and maintaining high success ratios for instant payments. By focusing exclusively on A2A payments, Devengo positions itself as a specialized provider aiming to automate and streamline B2B financial operations.

Keywords: real-time payments, payment API, B2B payments, fintech, account-to-account payments, SEPA payments, payment automation, programmable payments, payment infrastructure, virtual IBAN, mass payouts, instant payments, Alberto Molpeceres, Fernando Cabello-Astolfi, automated clearing house, licensed payment institution, financial software, Valitic, API-based payments, payment operations, corporate treasury, cross-border payments, automated compliance, payroll payments