Berlin-based Bling gets €11.2M to get families to discuss money at the kitchen table

Berlin-based Bling, a mobile app that allows children to manage their budget, announced on Thursday that it has secured $12M (approximately €11.2M), bringing the total funding raised to $15M(approximately €14.1M).

The funding round was led by Owl Ventures, with participation from Commerzbank Group’s VC, Neosfer, as well as existing investors PEAK and Angel Invest.

With the growth capital, the German company will further expand its family-friendly digital solutions in the areas of payment, investment, and mobile communications.

Bling: Enhancing financial and media literacy

Founded in 2021 by Leon Stephan, and Nils Feigenwinter, Bling aims to enhance the financial and media literacy of families by utilising simple visualisations and educational content within the app and on social media.

“Almost 70 per cent of parents in Germany are overwhelmed in their daily lives and risk burnout. With our app, we are taking the pressure off families in the long term: from easy payments and investments to a task and shopping planner, to family-friendly mobile communications,” says Nils Feigenwinter, co-founder and CEO.

The company launched with a pocket money card and accompanying app and used the popular and educational service to develop a holistic platform for families.

“Within less than two years, 150,000 family members have decided to simplify their everyday lives with family-friendly solutions from Bling. For many, Bling is already the ultimate super app for coordination within the family,” adds Feigenwinter.

In February 2024, the company expanded its services by introducing “Bling Mobile,” a family-friendly mobile phone plan in partnership with Deutsche Telekom.

This offering complements the app’s existing features, such as pocket money management, easy investing for parents, and household and shopping organisations.

Within less than two years of its launch, Bling has attracted 150,000 family members who find its services relevant to their financial situation, claims the company.

Leon Stephan, co-founder and CTO, says, “Bling is built as a platform, which significantly simplifies and accelerates product development. Within less than two years, we have replaced many of the most popular apps for payment, investment, mobile communications, to-dos, and shopping management with Bling.” 

Currently, the Berlin-based company works with numerous B2B2C partners such as Société Générale, Deutsche Telekom, and Evergreen, giving its partners unique access to the family target group.

The investor

Owl Ventures is a venture capital firm focused on the education technology market with over $2B in assets under management.  

The Silicon Valley-based firm invests in education technology companies across the education spectrum, encompassing PreK-12, higher education, and the future of work.

“With an excellent product, an innovative B2B2C platform, and strong customer growth, Bling is well positioned to establish itself as the leading family super app in Europe while creating social added value by improving the financial and media literacy of children and young people,” explains Ian Chiu, Managing Director of Owl Ventures.

“We are particularly pleased to establish a long-term partnership with Bling to support families through education and technological innovations,” adds Chiu.