Finanzguru Raises €13M in Funding

Finanzguru

Finanzguru, a Frankfurt Am Main, Germany-based fintech company providing an open banking enabled holistic financial advisor, raised €13M in funding.

The round, which brought cumulative funding to €27M since its launch in 2018, was led by new investors SCOR Ventures and PayPal Ventures, with participation from existing investors including Deutsche Bank, coparion, VR Ventures, Hannover Digital Investments, Venture Stars and former Postbank CEO Frank Strauss.

The company intends to use the funds to accelerate profitable growth in Germany, further expand its product platform, and strengthen its current team of 70 employees.

Led by co-founders and co-CEOs Alexander Michel and Benjamin Michel, Finanzguru is a digital and individual financial assistant based on artificial intelligence. It works as the control centre for its users’ money: they can use it to keep track of their income, expenses and contracts, save and invest, and take out insurance and other financial products. For this purpose, user can connect any online banking account in Germany to Finanzguru.

The app already has more than 1.5 million registered users.

FinSMEs

04/04/2023