Meet Numbrs: The New Unicorn of the FinTech Industry

Ever heard of Numbrs? The Zurich-based company is one of many multibanking providers. With the app, users can link their various bank-accounts on a single platform and see when and for what they are spending how much money. While competitors such as Finanzguru, for example, are funded with low millions of Euros, Numbrs is now smashing it out of the park and received 40 million dollars from unnamed investors. According to Numbrs, this brought the total funding amounts to 200 million euros with a new valuation of 1 billion euros. Once again we witnessed the rare birth of a unicorn in German-speaking countries. After N26, which were able to collect over 420 million euros in the spring, Numbrs is now only the second FinTech Unicorn in the DACH region.

Numbrs’ main value drivers are the steady growth in the number of accounts included in the app and in the customer funds managed via the app, as well as the broadening of the product range and new sales partnerships. Approximately 100,000 new user bank accounts are currently being integrated in the app each month, with the majority being users’ salary accounts. This leads to above-average growth in customer funds managed via the app, the volume of which has risen by one billion euros since the beginning of July 2019 and now stands at eleven billion euros.

“We are extremely pleased with the current development of new accounts included by our users and the client funds managed through the app. As an independent personal finance platform, we are not only looking at the absolute number of accounts, but above all at the inclusion of salary accounts. The inclusion of salary accounts is the major hurdle in terms of trust, which needs to be overcome, not only by us but also by the neo-banks in order to be relevant in the retail business,” said Martin Saidler, founder and CEO of Numbrs, adding: “The company’s valuation at over one billion euros and the volume of funds raised in our financing rounds confirm that we are on the right track with Numbrs. We are working hard towards scaling the business model in the coming months. Our growth would also benefit from a smooth implementation of the EU Payment Services Directive PSD2.”

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