numbrsZurich-based fintech Numbrs Personal Finance has raised $40 million from a number of private investors thereby bringing its total valuation to around $1 billion. This round has, therefore, launched it into the European fintech unicorn market. The additional funding is expected to assist the company in its plans of expanding in the European market.

Established in 2014 in Germany, Numbrs Personal Finance aims to enable its users to manage their bank accounts under a single application and provide them the ability to apply for bank accounts, credit cards, loans and insurance within the app.

Commenting on the anonymity of its private investors as well as the newly achieved unicorn status Martin Saidler, Chief Executive Officer of Numbrs talked about the issues startups run into, with venture capital funds and the private equity firms, when raising funds as well as profits don’t start pouring in early.

The fintech has been partnering with banks and insurance providers such as Barclaycard, Postbank, Santander, AXA, etc. Numbrs has stated that it’s application has surpassed 2 million downloads.

by Megha Bhattacharya
Market Analyst at IBS Intelligence