Personal finance app bonify picks up investment from Experian

bonify, a personal finance platform based in Germany, has received an investment from Experian Ventures.

The FinTech startup currently offers 500,000 consumers improved access to their creditworthiness and financial data. Its mobile-based app supplies several financial management tools to help analyse and optimise their financial position.

Consumers can use the bonify app to manage all of their accounts, improving their ability to save money, monitor spending and improve credit ratings. As part of the service, a user can receive a free credit check which monitors their history and score, as well as offering advice on improving it.

Alongside account management, the bonify gives users access to tailored loans which meet their financial situation and creditworthiness.

Experian Ventures is the investment division of Experian, a data and analytics platform which help individuals and businesses to better manage their data.

bonify founder and CEO Gamal Moukabary​ said, “Experian’s investment shows that we are on the right track. It rewards our achievements and our unique value proposition. Experian is an ideal investor and partner for us to support the next growth phase. Our goal is to expand our operations into other European countries.”

The company previously raised 5.5m in its Series A back in 2017. The round was led by Mosaic Ventures and Ribbit Capital, with support also coming from Index Ventures, DN Capital and HW Capital.

Last year, Experian led the $28m Series C round of C88 Financial Technologies, a Singapore-based provider of financial marketplace and credit risk model software developer.

Copyright © 2019 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.