Franq, a Brazilian fintech of “personal bankers,” raised US$12M

Franq, an open banking startup based in Florianópolis, Brazil, raised US$12 million in a round led by Quona Capital, a fund focused on emerging market fintechs. Created in 2019, Franq operates by matching personal bankers with up to 50 financial institutions—banks such as Itaú, Bradesco, and Santander, and fintechs, to sell their products to individuals and SMEs. They have around 7,000 of these personal bankers and 70% of Franq’s clients are individuals, while companies represent 30% of the clients.