Fintech Numbrs raised 27 million Swiss francs in new capital last year. Martin Saidler, the founder of the fintech, wants to expand again.
Fintech Numbrs, which started with big ambitions, had to bury its plan to become a global independent smartphone-based financial broker last year. Instead, founder Martin Saidler wants to expand Numbrs wants to expand Numbrs into Europe as a fee-based personal finance app, according to a statement released on Monday.
Saidler refinanced Numbrs with his own money, raising a total of 17.5 million francs in 2020 through his investment firm Saidler & Co Finance. Just under 10 million francs came from other investors.
Focus on Spain, Italy and France
With the new capital, Numbrs can now expand more quickly in the existing markets of Germany and the U.K. In addition, the market entry in Spain, Italy and France will take place in the current year, Numbrs announced.
The Zurich-based fintech recently suffered a series of setbacks after a successful funding round in 2017 achieved the so-called unicorn status (one-billion-dollar valuation). Another financing round had failed in spring 2020. Around half of the workforce had to leave the company, and Saidler changed the business model.
