Devengo: The Desafía Program startup automating instant payments in Europe

29.11.2024 15:18, Rita Longobardi

Meet Fernando Cabello-Astolfi, CEO of Devengo. In December, Fernando and the other eight Desafía Team members will participate in a two-week immersive business program across Zurich, Bern, St Gallen, and Lausanne to establish sustainable growth pathways in Switzerland's innovative ecosystem.

Name: Fernando Cabello-Astolfi
Location: Madrid
Nationality: Spanish
Graduated from: LSE
Job title: CEO
Number of employees: 12
Money raised: EUR 5M

Fernando is an experienced fintech entrepreneur and business angel with a strong track record. He founded Aplazame.com, a BNPL platform acquired by Wizink, and has invested in over 30 fintech companies worldwide. Now leading devengo.com, cofounded with payment expert Alberto Molpeceres, Fernando is advancing instant, programmable account-to-account payments in the SEPA region. Passionate about innovation, he focuses on building efficient financial ecosystems. In his free time, he enjoys traveling, reading, hiking, skiing, and sharing good wine with friends.

Can you tell us who your product or solution helps, and how?
Devengo helps businesses streamline their payment processes by enabling instant, programmable Account-to-Account (A2A) transactions. Our solution benefits companies of all sizes, eliminating payment delays, improving cash flow management, and enhancing customer satisfaction by ensuring seamless and programmable financial interactions.  

What market are you addressing, and what is the potential of your startup in that market? 
We’re addressing the SEPA (Single Euro Payments Area) region, targeting the demand for instant and programmable payment solutions. The SEPA market offers immense potential, with over 36 countries and a unified framework for euro transactions, making it an ideal environment for innovation. As businesses across the region increasingly adopt digital payment solutions, we aim to lead the way in transforming how payments are processed and managed.

What are your team’s key achievements to date?
Devengo successfully launched its platform, processing millions of transactions with the EU's highest instantaneity success rate. The company secured EUR 5 million from leading investors, built a skilled team of 12 Fintech experts, and established partnerships with prominent companies, showcasing market trust and adoption.

What do you expect from Desafìa, and how will it help you achieve your vision?
From Desafìa, we expect access to mentorship, resources, and connections that will help us refine our go-to-market strategy, scale our operations, and adapt to international markets. Their support will be instrumental in helping us accelerate growth and achieve our vision of transforming A2A payments.

Why does Switzerland represent a great opportunity for you?
Switzerland offers a thriving fintech ecosystem, with a strong emphasis on innovation, a supportive regulatory framework, and proximity to key European markets. Establishing a presence in Switzerland would allow us to collaborate with industry leaders, access top-tier talent, and position Devengo as a global leader in the payments space.