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Numbrs, another unicorn valued more than 1 billion dollars, in the fintech market

Autor: Financial Market
Timp de citit: 2 minute

As announced on Bloomberg, the company recently raised an additional $40 million, bringing Numbrs at a valuation of over $1 billion, making it one of the very few European Fintech unicorns, according to a recently company press release.

A unicorn is the name given to privately owned company valued at $1 billion or more. The term “unicorn” is used to illustrate the rarity of such companies.

Indeed, only a few hundred companies worldwide can boast a valuation of $1 billion or above while remaining private. As such, we are now joining the likes of Airbnb, SpaceX, WeWork, or Coinbase.

How did the company get there?

Our funding consists mostly of private investors. This gave us the time to build the best technology platform in the financial industry.

Venture capital and private equity funds tend to have less patience. They get nervous when it takes longer for a startup to earn money” — said Martin Saidler, Numbrs CEO.

Numbrs started in 2014 and since then, it has been enabling users to manage all their bank accounts under a single application, and apply for financial products such as bank accounts, credit cards, loans and insurances directly within the app.

To do so we have secured partnerships with some of the biggest banks and insurance providers such as Barclaycard, Postbank, Santander, Bank of Scotland, Allianz, AXA.

Year after year more users turn to Numbrs to manage their finances, as our application has now over 2 Million downloads and we have over €10 billion in managed assets.

CITESTE SI:  Top digital banks grow new users 209% over the past six quarters

About the company

Numbrs is a technology company that develops a leading banking app. With Numbrs, users can take control over their finances entirely independent of banks. Neutrality, simplicity, and security are their core values. With over 3,500 banks in Germany, the company is aggregating bank accounts from various banks, to give users a superb overview of their bank accounts — all in one app. Numbrs has many useful functions, like the Analysis feature with automatic spending categorisation, to enable users to see what is essential. The Money Store with its exclusive offers is the easiest and fastest way to apply for the best financial products on the market. With an integrated support chat, users can ask their financial experts about the ideal product to meet their needs. Based in Zurich, Switzerland, Numbrs employs more than 100 people from all over the world. Managing over 1.5 million bank accounts in Germany, Numbers is ranked #1 banking app for iOS and Android while not being a bank.