Numbrs, a Zurich, Switzerland based customer centric fintech company that helps the customers in the management of their existing bank accounts and personal finances, announced securing CNF 27 million or €25 million capital in the year 2020 on 18th January 2021.
The lead investor of the latest funding round was the Swiss investment enterprise Saidler & Co that invested CHF 7 million that brought its total investment in 2020 to CHF 17.5 million.
The new investment will help Numbrs in accelerating the launch of their new subscription based business model in the UK and Germany. The company has also planned to enter three new markets Italy, France and Spain in 2021 and will also take a step forward in developing new functionalities for their startup’s cutting edge technology.
Fynn Kreuz, a Managing Partner of Numbrs said “We are pleased to have successfully completed our 2020 fundraising activities in the difficult market environment induced by the COVID-19 pandemic. We would like to thank our shareholders for their continued trust and support.”
Founded in 1999 by Boris Manhart and Martin Saidler, Numbrs allows its users to manage all their financial accounts including crypto wallets, bank accounts at one place.
Initially the company was started with its plan to become a global independent Smartphone-based financial broker but last year in November they changed their business model and switched to focusing on a paid SaaS subscription model in the UK and Germany. The Swiss fintech company recently secured a series of setbacks after it secured successful funding in 2017 and achieved the unicorn status. And after another financing round that failed in Spring 2020 half of the workforce of the company was made to leave, and they decided to change their business model.
This new business model has got a promising start for Numbrs and will be further expanded in different European countries in the upcoming months. Numbrs also secured a €36 million capital in August 2019 for their international expansion.
The company enables the customer to manage their existing bank accounts, other financial accounts and buy any financial products at best possible prices. It helps in saving money and is 100% neutral, safe and doesn’t need your bank accessing the data. It uses the most efficient Artificial Intelligence technology to analyze the financial data in background and alerts the users for hidden fees, expensive loans, interest rates and other related aspects.
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