US-based personal financial data provider Moven closed an $8m series A round on Tuesday led by SBT Venture Capital, the venture capital arm of Russia-based bank Sberbank.
The round also included Luxembourg-based holding company Anthemis Group, financial services firm Standard Bank, and VC firms Route 66 Ventures and New York Angels.
The Moven smartphone app can instantly provide users with feedback on their spending habits and information on how much money they have in their account.
Moven previously raised $4.4m across two seed rounds, in August 2012 and August 2013, from Raptor Ventures, the VC division of financial services firm Raptor Capital Management, digital financial services firm Anthemis Group and venture capital firm Life.Sreda.
Moven CEO Brett King said in a post on the company blog: “With this new funding Moven can now fully capitalise on the hundreds of thousands of prospects and emails built over the last few months. And we can continue to invest in ground-breaking features and tools that will redefine the banking experience for every one of our users.”
Matteo Rizzi, general partner at SBT, told Global Corporate Venturing in May that the fund was seeking companies that could incorporate payment, data analytics and customer retention into a single product.