Bankin’, the France-based personal finance management app developer backed by financial services firm Commerzbank, has raised €20m ($22.6m) from undisclosed investors to increase its overall funding to approximately $32m.
Founded in 2011, Bankin’ has created a mobile app designed to help users manage and collate all their financial transactions in a single place. The app, which has approximately 2.9 million users in Europe, also enables users to send and receive money.
Investment firm Omnes Capital led an $8.9m funding round for the company in 2017, participating alongside Commerzbank’s venture capital arm, CommerzVentures, as well as Génération New Tech and private investors Didier Kuhn, Simon Dawlat and Franck Lhuerre.
In addition to expanding its technology, marketing and coaching teams with more than 20 appointments by the end of 2019 the company will use the capital to bolster its presence in France, the UK, Spain and Germany.