Numbrs joins fintech unicorn club
Swiss fintech startup Numbrs Personal Finance has joined the unicorn club, raising $40 million from private investors in its latest funding round.
Launched in 2014, Numbrs offers an account aggregation app and provides users with the opportunity to apply for bank accounts, credit cards, loans and insurances directly within the app from a panel of banks and insurers. Barclaycard, Postbank, Santander, Bank of Scotland, Allianz, AXA are among the banking partners secured by the firm.
The company now claims over two million downloads and in excess of €10 billion in managed assets.
The firm's growth strategy has revolved around the support of private investors - such as former Deutsche Bank CEO Josef Ackermann - rather than venture capitalists, who insist on fast returns. Total capital raised so far amounts to $200 million.
Numbrs founder Martin Saidler says: “Venture capital and private equity funds tend to have less patience. They get nervous when it takes longer for a startup to earn money”