Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
From Open Banking to Utilities. Deck Raises $6.2M
Funding | Oct 17, 2024
Image: Freepik/rawpixel.com
Deck Secures $6.2M to Bring Open Banking's Transparency to Utility Management
As reported by Betakit, the co-founders of Flinks have raised $6.2 million CAD from investors like Golden Ventures, Better Tomorrow Ventures, and Luge Capital for a new business called Deck that plans to make it easier for Canadians to manage their energy and telecom services. The goal is to change how people interact with their utility providers while helping them save money and access their data more easily.
- Similar to open banking lets people share their financial info, Deck’s Open Utility model gives users real-time access to their energy and telecom data to help them track and reduce energy usage. It also makes it easier for people to switch providers which encourages more competition (and potentially lowering their bills).
See: National Bank acquires majority stake in fintech startup Flinks in $103M deal
- Studies show that being able to see and understand energy usage data can help people save 15-20% on their energy costs each year. With many households spending over $200 a month on utilities, there’s a ripe opportunity.
- The founders of Deck built Flinks, a popular company in open banking that connects bank data securely with financial apps. This experience gives them a strong understanding of keeping data safe and focusing on user needs.
Outlook
Deck has the potential to bring innovation to the industry and help people save money. This is similar to smart meters in the energy industry, where people can see real-time data about their energy use, allowing them to adjust their habits and save energy.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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