Zurich-based fintech startup Numbrs claims to work with the mission to aggregate and neutrally analyse all financial information to help their users live a healthier financial life. Now, the company announced that it closed a funding round in December 2020.
Eyes to accelerate growth
Numbrs announced the completion of its fundraising activities for 2020. As per the company, it raised a total of CHF 27M (nearly €25M). Swiss investment firm, Saidler & Co Finance AG led the company’s latest investment round that it secured in December last year, which contributed an additional CHF 7M (nearly €6.5M), thereby taking the total funding raised in 2020 to CHF 17.5M (nearly €16.3M). Previously, the company raised €36M in August 2019 to expand internationally.
The Swiss fintech will use the investment to accelerate its growth and roll out its new subscription-based business model in the UK and Germany. The startup’s key initiatives for 2021 include market entry into three additional European markets such as Spain, Italy, and France and the development of new functionalities of its cutting-edge technology.
Founded in 2014 by Julien Arnold, Dennis Just and Johannes Hübner in Switzerland, Numbrs is a personal finance app, which offers a paid software-as-a-service subscription model in Germany and the United Kingdom. The rollout of the new business model picked up, and the service will be further expanded across different countries in Europe over the coming months.
It enables its customers to manage their existing bank accounts and personal finances via an app and to buy any financial product from every provider at the best possible price. The company is headquartered in Zurich, Switzerland and employs over 100 people.
In July, last year, Numbrs launched in the United Kingdom. According to the company, it supports all major banks in the UK – Barclays, HSBC, Lloyds, Revolut, Monzo, Starling, Natwest, Santander, Halifax, Royal Bank of Scotland, Marks & Spencer, Nationwide, among others.
“In November 2020, the personal finance app “Numbrs” changed its business model and has since focused on a paid software-as-a-service subscription model in Germany and the United Kingdom. The rollout of the new business model got off to a promising start and will be further expanded across different countries in Europe over the coming months,” says the company in its press release.
With its app, the company claims to be one of the world’s most advanced finance tools. Its investment capital has reached nearly €200M and is valued a little over €1B, making it one of the most valuable fintechs.