- Oct 15, 2019
- Oct 10, 2019
Numbrs Personal Finance raised $ 40 million in the latest funding round, bringing total capital invested to nearly $ 200 million, President Martin Saidler said in an interview. Numbrs offers an application through which users can manage all their bank accounts in one place and can purchase financial products.
The company entered the unicorn category (market value over $ 1 billion) by focusing on private investors. "Venture capital and private equity funds tend to have less patience. They get nervous when a startup is slow to make money," Saidler said. One exception was Dubai Investment Corporation, which invested in Numbrs in 2017.
In total, more than 50 individuals and families invested in fintech. And according to the president, both the existing and new investors participated in the last round of financing.
The company had previously revealed that investors with holdings include former Deutsche Bank CEO and Cyprus central bank governor Josef Ackermann, as well as banker Pierre Mirabaud.
Numbrs is not yet profitable, but expects to stop losing in two years, according to Saidler. Fintech launched its application in 2014 in Germany and, starting next year, aims to make the UK its second largest market.
"After that, we want to expand to other European countries," said Saidler, who has no plans to launch in the US.