FinTech: Numbrs closes CHF 17 million funding round

Numbrs is pleased to announce the successful closing of a new funding round in the total amount of CHF 17 million. The lead investor is the Swiss investment firm Saidler & Co. Finance AG, which contributed CHF 11 million to the round.

The new capital will enable Numbrs to accelerate its growth in Germany, the UK and beyond. Key initiatives for 2020 include the market entry into the UK and the development of new key functionalities of Numbrs’ cutting-edge technology.

The new investment is especially remarkable considering the difficult market environment induced by the COVID-19 pandemic. Whereas the COVID crisis – in particular the travel restrictions – have limited the practical execution of fundraising activities, Numbrs was a significant beneficiary of the associated acceleration in digitalisation, demonstrating a rapid user growth especially in the UK market.

Judging from these encouraging results, we conclude that COVID-19 has a significant, positive impact on our organisation and the consumer preferences in the society at large. We see the digitalisation of financial services and the demand in certain digital financial products is rapidly increasing. Understandably, visiting bank branches is becoming less attractive these days, and the need for controlling personal finances on the mobile is becoming more relevant than ever. We expect this trend to accelerate further, as a generation of new users have become accustomed to digital financial services and the consolidation of their finances online and in Numbrs during the COVID-19 period.

“After a challenging period at the beginning of the COVID-19 induced crisis, we are pleased to successfully conclude  the new fundraising round. It is a statement to the trust of our shareholders and investors into our organisation“, concludes Mr Martin Saidler, Chairman and CEO of Numbrs Personal Finance AG.

Since the launch of its Multi Banking-App in 2014, Numbrs has raised over CHF 200 million, making it one of the best funded FinTechs in Europe. The company became the first FinTech unicorn in Switzerland in 2019. This year’s main goals are to solidify and extend our market leadership position in Germany, and the acceleration of user growth in the UK market.

SOURCE: https://www.numbrs.com

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