Santander smartly acquires invoicing and expenses app Albert
Financial details were not disclosed. The app provides tools that reduce the time its self-employed customers spend on financial admin.
Lindsey Argalas, Santander group chief digital and innovation officer, says: “It is our shared belief that small businesses owners should have access to the tools that help them work smarter, and that deliver the same instant, seamless and personal experiences in finance, as they get in their daily lives.”
The Albert app will continue to operate business as usual and the bank says there will be no disruption to the service.
Santander says it has a history partnering with start-ups through its InnoVentures arm.
A recent example is from last month when Santander InnoVentures invested in Bonify, the German credit-scoring fintech Bonify, in its latest funding round.