In today’s world, smartphones are used for almost everything, making them perhaps the most ubiquitous device on the planet.
Billions of users depend on these devices to keep in touch with friends and family, to check out the latest sports scores, and as an essential tool for work. However, the power of smartphones goes far beyond sending messages, as they are also useful for productivity and finance.
The digital divide, however, is real, and many people around Spain still find it a pain to access their banking information via apps on their smartphones. This is precisely the barrier that Spanish startup Silbo Money wants to break down.
A few days ago, Silbo Money launched its WhatsApp payment service in Spain.
With this solution, the company allows users to make fast and secure transactions directly from the popular messaging app, without the need for additional apps and is compatible with any bank.
In statements shared via email with Novobrief, Luis Cantero, CEO of Silbo Money, highlighted that during the beta stage, in which the service was tested with nearly 10,000 users, Silbo Money saw good results. “The response has been very positive. We are clear that there is a real need and that what we offer connects with our users,” explained Cantero. “What makes us happiest is seeing that people feel confident and secure when using Silbo Money, which has always been our top priority.”
Silbo Money has the support of leaders in the banking and tech sectors, such as former BBVA CEO Ángel Cano and former Evo Banco CEO Enrique Tellado, along with other former executives in the sector, as well as Juan Pedro Moreno, former president of Accenture in Spain.
In its initial phase, Silbo Money has raised €1.5 million, securing the necessary resources to launch its operations. By the end of 2025, the startup plans to raise an additional €1.5 to €2 million to strengthen its strategic talent team, consolidate its presence in the Spanish market, and enhance its functionalities, with a special focus on integration with merchants and success in the competitive B2B2C market.
“As easy as sending messages”
For users in Spain, Silbo represents a simple and intuitive alternative to Bizum, a payment service integrated into the apps of the country’s major banks that allows users to send and receive money instantly using only their phone number.
The service was born from an idea that sought to take advantage of the same simplicity with which we send messages to also move money. “If I spend my day sending messages about trips, meals, and gifts on WhatsApp, why can’t I use my money at that moment and make it as easy as sending a message?” the CEO asked.
The company has obtained a license from the Bank of Spain to operate as a financial institution throughout Europe, so it hopes to expand its services and target other markets in the region.
Its goal at this stage is to change the way people manage their payments and will soon launch the next phase, aimed at helping small and medium-sized businesses sell their products and services. “We want users to say ‘send me a Silbo’ or ‘Silbo me last night’s dinner’ as something natural in their daily lives,” the company said in a press release.
In terms of how it works, Silbo functions as an assistant that is integrated as another contact in WhatsApp and allows interaction from there. It is compatible with all banks, with no limits on amounts and no fees for transactions between users, with the possibility of sending, requesting, and receiving money to any contact, and it is even possible to pay in stores and withdraw funds to your bank account. The money reaches the recipient in less than five seconds.
The company emphasizes that all this happens “immediately and within the familiar environment of WhatsApp,” which boasts over 2 billion active users worldwide.
“Our challenge is to continue improving so that it is more useful to them and they incorporate it naturally into their daily lives. In this regard, users help us a lot with their comments, and that is why we will soon be launching new versions, for example, simplifying the registration process and offering more features that they miss,” Cantero said.
The future of “superapps”
Social media and instant messaging apps are widely used on a daily basis, so they have evolved far beyond integrating most needs in one place. WhatsApp alone has more than 35 million active users in Spain and a penetration rate of over 94%, according to data from Statista and the CNMC.
In China, the WeChat app serves as citizens’ ID, for making payments, and much more, so it’s no surprise that Elon Musk dreams of turning X into a “superapp for everything” in the U.S.
While that is happening, WhatsApp is taking some steps forward. In countries such as India and Brazil, the platform has implemented —with the support of some local partners— its payments and transfers feature, allowing all users in those countries to send and receive money between individuals, as well as pay small businesses directly from the app.
Superapps are considered to be platforms that allow the coexistence of multiple services, including third-party services. Although in Asia they are more familiar with this type of platform through the likes of AliPay, Grab, or WeChat, in Europe there’s still a long way to go before something similar is achieved in the superapp space.
For this reason, the recent launch of Silbo Money could set a precedent for promoting payments through instant messaging platforms and social networks in Spain and Europe in general.