– SWITZERLAND, Zurich – Numbrs Personal Finance AG, the company behind the Numbrs app that enables users to manage their existing bank accounts in one place and to buy financial products, announced having recently raised an additional $40 million, bringing Numbrs at a valuation of over $1 billion, making the company one of the very few European Fintech unicorns.
“Numbrs Personal Finance raised $40 million to bring the total capital invested to almost $200 million,” CEO Martin Saidler said in an interview.
The company has become a so-called unicorn by focusing mostly on private investors. “Venture capital and private equity funds tend to have less patience. They get nervous when it takes longer for a start-up to earn money,” Saidler said in an interview. Investment Corporation of Dubai, which invested in 2017, is an exception, he said.
In total, more than 50 individuals and families are invested in the company. Existing and new investors took part in the latest funding, Saidler said. The company previously identified former Deutsche Bank AG head Ackermann and private banker Pierre Mirabaud as stakeholders.
Numbrs is not profitable yet, though it aims to break even in two years, Saidler said. The fintech firm launched its app in 2014 in Germany and, starting next year, Numbrs aims to establish Britain as its second main market.
“After that, we want to expand to other European countries,” Saidler said.
To do so, Numbrs have secured partnerships with some of the biggest banks and insurance providers such as Barclaycard, Postbank, Santander, Bank of Scotland, Allianz, AXA…
Year after year more users turn to Numbrs to manage their finances. The application has now over 2 Million downloads and we have over €10 billion in managed assets.
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