Zurich-based fintech firm Numbrs is now valued at $1B: 5 interesting things to know about the newest European unicorn

Zurich-based fintech firm Numbrs is now valued at $1B: 5 interesting things to know about the newest European unicorn

This article will take you 3 minute(s) to read

With a plethora of apps, sticking to a budget, managing money, even handling an investment decision is easier than ever now. Understanding your cash flow is a crucial part of successfully managing your finances.

Fortunately, the market is overwhelmed with management apps designed to help users to check bank balance, tracking spendings, and make better financial decisions, based on the data gathered from your accounts.

Numbrs – A new unicorn!

Among the finance management apps, the latest one to hit the headlines is Zurich-based fintech startup Numbrs. For the unknown, Numbrs is a customer-centric financial services company.

It enables its customers to manage their existing bank accounts and personal finances and to buy any financial product from every provider at the best possible price.

Secured €36 million!

Recently, the Swiss fintech startup raised an additional €36 million ($40 million), bringing the total to over €200 million and its valuation to over $1 billion, making it Europe’s newest unicorn. A unicorn is a name given to a privately owned company valued at $1 billion or more.

The fintech company will utilise this amount for expansion in Europe, prominently in the UK. Notably, the funding comes primarily from private investors.

2 million downloads!

Founded by Boris Manhart, Martin Saidler, the company app has now over 2 Million downloads and over €10 billion in managed assets. With this platform, the company aims to build a customer-centric product and support users in managing their finances.

#1 Finance app in Germany 

With a total of 1.6 million accounts through management, Numbrs is one of the most frequently used banking apps in Germany. Supporting more than 3,500 different German banks, this platform allows users to aggregate all their accounts in a single application to manage better, analyse, and control their finances.

Uses machine learning!

Numbrs has developed an automated system that uses machine learning to help our users to learn more about their financial situation. Furthermore, the company has developed “Triggers,” which appear under specific transactions in the timeline to make users aware of saving potential. On the other hand, Zurich-based fintech company uses analytics feature which provides more clarity for users while helps them choosing the right bank products for their individual situation.

Money store

With this feature, users can compare bank accounts, personal loans, and credit cards from leading banks and complete the whole process without leaving the app. Talking about security, Numbrs strictly complies with the German Data Protection Act as well.

Martin Saidler, said:

Venture capital and private equity funds tend to have less patience. They get nervous when it takes longer for a startup to earn money

Stay tuned to Silicon Canals for more updates in the tech startup world.

Nuclear power for your b2b-startup: 5 reasons why you should join the Comet Competition

Leave a Reply

*