Clar Expands European Foothold with Acquisition of Spanish Finteca

In a strategic move to broaden its presence in the European financial technology sector, Sweden-based Clar has successfully acquired Finteca, a Spanish proptech startup specializing in mortgage management. Finteca, founded in 2017, boasts a robust platform with over 3,000 real estate partners and the annual management of more than 20,000 mortgages.

Finteca will integrate into Prestalo, Clar’s established loan broker in Spain, offering a comprehensive suite of financial solutions. Silvia Escámez, CEO of Finteca, sees this union as an opportunity to penetrate diverse market niches, with plans to expand into countries like France and Portugal, aligning with Clar’s global strategy.

Carlos Blanco, Chairman of Nuclio, the startup incubator behind Finteca, expressed optimism about the collaboration, foreseeing fruitful outcomes for shareholders. Prestalo, already processing around 100,000 loan applications monthly, aims to leverage Finteca’s mortgage management expertise to become a prominent technology-driven loan manager in Spain.

Kristoffer Hanson, CEO of Prestalo, highlighted the significance of Finteca’s addition, noting that it positions Prestalo to cover financing needs across various life stages. Per Granstrand, Managing Director of Clar, expressed admiration for Finteca’s accomplishments and anticipates extending its success to new markets globally.

The acquisition was facilitated by M&A specialist Jorge Blasco from The Net Street, underscoring the strategic advisory role in advancing technology-driven financial solutions. Clar’s move signifies a bold step toward establishing itself as a key player in the evolving landscape of European fintech.