Banking Data FAQ

Why am I asked to provide banking data? And how do you use this data?
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We use our advanced data analysis tools, and the expertise of our data analysts to assess your business's financial situation and define a funding amount proposal that aligns with your current position. It's crucial for us to know every bank and movement associated with your business to ensure a comprehensive assessment of its financial health. Our connection is used only to retrieve bank statements; no financial transactions are made.

We use those bank data to understand the dynamic of your business based on revenue and expenses (e.g. burn rate, MRR, cash balance…).

What period of the banking data do you need?
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We need a minimum of 6 months data, ideally 12 months to understand your seasonality.

How do you connect automatically to my account?
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  1. Signup with Levenue and reach the step where you need to share your banking data.
Page where you can connect your banking

  1. Click “Connect bank account”
  1. Search for your bank
  1. Provide your full name and account type
  1. Read and consent to the Data Access Policy
  1. Provide your business details
  1. Sign in to your bank account (will be redirected to your bank log in page)

How should I proceed if I have several bank accounts?
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If you have several bank accounts in the same bank, Saltedge (our banking data API provider) will connect all of them with 1 connection. If you have several accounts in different banks, you will need to connect your main bank account and provide PDF bank statements via email for the rest of your banks to support@levenue.com.

What is SaltEdge?
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SaltEdge provides open banking API solutions that enable access to 5000+ banks globally.

We chose SaltEdge as our partner because it adheres to all European data regulations: the credentials undergo at least double encryption and can only be accessed using one-time tokens. This ensures that even if there's a transmission breach or if the external Salt Edge API servers are compromised, intruders won't have the capability to decipher the credentials.

And this service accelerate largely the connection to the banks (no more pdf statements).

How do you collect the banking data?
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We establish connections to bank accounts using a dedicated API (PSD2 connection). This enables us to retrieve and view your bank statements, saving you valuable time. The credentials are encrypted at least twice and they can be accessed only with one-time tokens. No risk.

What can we do if we can’t connect banking data?
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The API we use to connect to bank accounts has the capability to access data from over 5,000 banks.

Occasionally, this connector might not function, or your bank might not be on our list. In such instances, you can provide us with your bank statements from the past 12 months (in pdf format).

Can I share my PDF & CSV bank statements?
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Yes, you can do so by sharing your 12 mont recent months of bank statements in PDF & CSV to our support team at support@levenue.com.

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