Qapital Secures $30M in Financing

Qapital, a Stockholm, Sweden-based provider of a mobile banking app designed around people’s goals, secured $30M in financing.

The financing was anchored by Swedbank Robur, with participation from Northzone.

The company will use the funds to expand its user base globally.

Led by CEO George Friedman and CTO Erik Akterin, Qapital uses a “rules” and “goals” approach to personal banking. It enables users to create short-term goals, then decide on rules to automatically fund these goals, like sending a sum to the goal account each time they swipe their Qapital Visa Debit Card or a linked credit card.
The goals can be funded through Qapital’s Spending Account (a checking account) or by linking an external funding source.

The Qapital app includes Qapital Savings for short-term savings goals, and Qapital Spending to be used as a checking account with the Qapital Visa Debit Card, which is overlaid with budgeting tools like the Qapital Weekly Spending Target.
Qapital Invest, a robo investment product, will be added to the experience soon.

To date, over 420,000 people have used Qapital.



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