Most open banking aggregators want your data. That is the business model: connect to the banks, pull the transactions, store them, enrich them, and sell the enriched product back. Enable Banking built the opposite. The company describes itself as the postman of your data — it moves financial information from the bank to the customer's application and does not retain, process, or build models on what passes through. For a fintech that considers its transaction data a competitive asset, or a customer with strict data residency requirements, that neutrality is the entire pitch.
Joonas Tomperi and Fedor Tyurin founded the company in Espoo in 2019, at the point where PSD2 had legally opened European bank APIs but had not made them usable. Each bank interpreted the standard differently, each shipped its own authentication quirks, and each updated on its own schedule. The regulation created the right; someone still had to build the plumbing. Enable Banking started with Finland and the Nordics and expanded outward, and now connects to more than 2,700 banks across 30 European countries through a single PSD2-compliant API — account information from all of them, and payment initiation from over 1,500.
What makes the company genuinely unusual is its scale relative to that coverage. Enable Banking has raised roughly €600,000 in total, in a single seed round in 2022 led by Wellstreet and Forward VC, and employs somewhere between fourteen and seventeen people distributed across seven countries. Tink sold to Visa for €1.8 billion with 500 employees. TrueLayer has raised hundreds of millions. Enable Banking is covering comparable European ground with a team that would fit around one table, which says something about how much of open banking infrastructure is disciplined engineering rather than capital.
The company holds its own Account Information Service Provider registration, supervised by Finland's FIN-FSA — which means other companies can build on top of its licence rather than obtaining their own. That is the model behind open-banking.io, the Danish developer tool that resells Enable Banking access at €3 per month without customers needing eIDAS certificates. It is also why Enable Banking's no-data-retention architecture matters structurally: because the platform never holds readable customer data, the companies building on it can make stronger privacy guarantees than they otherwise could.
Two smaller details are revealing about who this is built for. Enable Banking runs a balanced split between business and consumer accounts — roughly half of its ten million monthly API calls come from each, where most early open banking providers targeted consumer accounts only and treated corporate banking as an afterthought. And it offers a live production environment for testing without requiring a contract, which is a small thing that tells you the company expects developers to evaluate it by using it rather than by booking a call. Tomperi now chairs the board of Fintech Finland, the national industry association.