Birdylabs, a platform which helps consumers save money when completing purchases, has scored $3m in its first round of funding.
The capital was supplied to the France-based FinTech by Rising Sun Investment, an investor focused on the payments industry.
Founded in 2016, the company’s initial product, Birdycent, enables users to round up their daily payments to the nearest Euro, and put the extra cash into savings. The mobile app is connected to 140 banks and notifies users of their expenses.
Users can round up expenses and put savings away for themselves, but also for friends and family.
By the end of the year, the company is hoping to further its payment transaction analysis technology and launch services for loyalty programs and donation initiatives.
Capital from the round will be used to fund its international development and growth of its intelligent savings coach, with plans to integrate into online banks.
In a joint statement from the Birdylabs founders, they said, “We are thrilled to become a part of the broad and growing network of payments companies in the Rising Sun portfolio, to benefit from the deep expertise of Rising Sun management, and to have the necessary capital to build our international footprint.”
Earlier in the week, fellow personal finance mobile app SavR closed its seed round on $1m. The Australian FinTech connects to a consumer’s bank account and will help to increase their personal savings.
All transactions are monitored by SavR with each payment being rounded up to the nearest dollar. This spare change is then automatically deposited into a dedicated savings account or converted into Bitcoin.
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