The French pioneer and leader of Personal Finance Management apps intends to speed up its R&D investments in order to offer to each European individual its digital personal finance advisor.
Backed by lead investor Omnes Capital, CommerzVentures and Generation New Tech, this fintech nugget keeps on disrupting the market and now enables wire transfers within the app, a first in Europe.
On the eve of the opening of the European market to payment services (the DSP2 directive), Bankin’ is particularly well positioned to bolster its leadership.
Paris, 10 January 2017 – For 6 years Bankin’ has revolutionised the personal finance management using a mobile app that simplifies and clarifies money management. It offers an intelligent look at bank accounts, expense items (automatic categorisation) and monthly budgets. It also allows steering your money using a forecast end of month balance and automatic alerts of risks of overdraft. While Bankin’ can display together several accounts from different banks, the app also serves those who hold accounts at a single bank (about 65% of its users).
Set up in 2011 by Joan Burkovic and Robin Dauzon, the French start-up has today announced raising EUR 8.4 million from Omnes Capital (lead investor), CommerzVentures, Generation NewTech and business angels.
This funding will allow Bankin’ to accelerate its R&D to continuously develop new features. Bankin’ aims at becoming the personal finance coach, bank agnostic, able to manage money on a daily basis: intelligent transfers to avoid overdraft situations or boost savings, suggestions for renegotiating a mortgage and advice for sound financial management.
Ability to initiate wire transfers : a first in Europe
Bankin’ will shortly be offering wire transfers (currently in testing), between a person’s own accounts or to third parties. This much awaited feature for users offers the app a new dimension, directly replacing traditional banks wire transfer services with a sleek user interface for a great user experience.
“Thanks to this funding, we will be accelerating our innovations and meeting new requirements as expressed by our users. The possibility to execute wire transfers in a few clicks, relevant and personalised advice for better management of your money on a daily basis, an enhanced user experience… will contribute to developing a more successful and smart solution, “ says a thrilled Joan Burkovic, CEO and co-founder of Bankin’.
“Our investors straight away signed up to our vision and our values, and we remain independent of the banks, something essential to us. Their support is vital to pursue our ambitious growth targets in the months and years to come,” adds Joan Burkovic.
“The Bankin’ app is clearly a leader among the various personal finance management solutions. However, the vision of the two co-founders, Joan Burkovic and Robin Dauzon, combined with an ambitious outlook on product development convinced us to support the company”, explains Xavier Brunaud, Principal at Omnes Capital.
Bankin’ today has 1.5 million users, 2 million synchronised bank accounts and over 300 million synchronised transactions every month. The app is connected to over 350 banks in Europe and is available in 4 countries including France.
The start-up currently has a staff of 30.
About Omnes Capital
Omnes Capital is a major player in private equity and infrastructure. With €3 billion in assets under management, Omnes capital provides companies with the capital needed to finance their growth and with key expertise in a number of areas: Buyout & Growth Capital, Private Debt, Venture Capital, Infrastructure, Co-Investment. Omnes Capital was a subsidiary of Crédit Agricole until March 2012. The firm is now owned by its employees. Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI).
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