Bnext Inc., a startup neobank based in Madrid, said it raised $25 million in Series A funds to expand its digital banking business in Spain and launch new services in Latin America. 

The funding was led by DN Capital, Redalpine and Speedinvest along with existing investors, including Paris-based Founders Future, Mexico-based Cometa and others. 

"We are delighted to be able to work with such a select group of investors," Guillermo Vicandi, CEO of Bnext, said in a company release. "The financing obtained will allow us to consolidate our position and accelerate our growth in and out of our borders."

Bnext, which claims the leading market position in Spain with 300,000 active customers, said the company plans to launch premium plans, with more products and features and individual IBAN's for each user. 

Cover image courtesy of Bnext.