Mobile banking app Numbrs closes new funding round

European Mobile banking app Numbrs has raised a new undisclosed round of funding, which brings its total funding efforts to $150m.

While the amount was not disclosed, a report by Reuters puts the deal at $27m.

Check Point Software Technologies co-founder and chairman Marius Nacht took part in the round, alongside a ‘circle of noted investors’.

Zurich-headquartered Numbrs is a mobile banking app which is available on Android and iOS. It currently has more than 1.5 million accounts active and helps users manage multiple accounts from over 3,500 German banks.

Through the app, users can manage their transaction history, make secure money transfers, automatically categorise payments, set budgets and saving goals, and connect with Apple Watch. Users can also access the Numbrs Store where they can search for loans policies with different monthly instalments and terms available.

As of 2018, the company held €7.2bn in assets on its platform, a rise of €1bn since the start of 2017, according to the company.

Marius Nacht said, “I think that both the financial sector and the health care sector are about to witness a major technological change and Numbrs has the potential to benefit from this process.”

Numbrs has received previous investments from a selection of backers including the Sovereign Wealth Fund of Dubai, APAX Partners co-founder Sir Ronald Cohen and Mirabaud Private Bank founding family Pierre Mirabaud.

Saidler & Co, the investment firm of Numbrs founder Martin Saidler, holds the controlling stake in the banking company. Following the closure of the investment, Saidler and Nacht intend to co-invest and support each other’s initiatives.

Nacht is in the final stages of creating a new fund aMoon, which will invest in Israeli life science businesses. Saidler’s family office is hoping to expand its investments in the financial services, media and AI industries.

Copyright © 2018 FinTech Global

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