By Oliver Smith on Tuesday 27 August 2019
Germany-only for now, but big plans ahead.
Numbrs, the Zurich-based banking app, last week confirmed a Bloomberg report that its latest funding round valued the business at over $1bn.
In a blog post the company revealed that the $40m funding consists mostly of private investors—with the company’s share register reportedly including more than 50 individuals and families—as opposed to VCs.
Numbrs offers account aggregation in Germany, similar to Yolt, with additional financial products like current accounts, loans, credit cards and insurance being recommended based on usage.
The company claims to have over 2m downloads and to be handling over €10bn in managed assets.
In an interview last week with Bloomberg, CEO Martin Saidler said the UK would be Numbrs second main market following its Germany launch in 2014.
“After that, we want to expand to other European countries,” he said.
Numbrs has partnerships with several of Europe’s largest banks and insurers including Barclaycard, Postbank, Santander, Bank of Scotland, Allianz and AXA.
“Looking back we are extremely proud of our achievements. But the we are even more excited with what lies ahead,” the company wrote.