Personal finance management company Nummo has netted $1.9m in its oversubscribed funding round.
Alongside the investment, the company has held the public launch of its services.
A group of unnamed C-Level executives and entrepreneurs from Europe and the US led the round. Nummo previously had raised $700,000 in a round just backed by friends and family.
The company offers consumers an app to monitor their finances and receive advice on how to improve savings. Users can connect all of their bank accounts to the platform, where they can view all of their finances and assets as well as monitor any budgets or saving goals.
Nummo will also analyse a consumer’s financial accounts and provide insights on where they can save money by switching. A robo-advisor comparison tool is also available to help users review various offerings and review them for other Nummo users.
This equity line will be used to further its presence in the US market and continue developments to its product and app. Alongside this, Nummo is looking to open a US headquarters early next year.
Nummo co-founder and CEO Roi Tavor said, “At Nummo, we have worked hard to create a platform that makes it easy for people to aggregate their bank accounts to help better understand and manage their finances. Our goal is to help simplify and shift the money mindset.”
Earlier in the month, UK-based personal finance app Cleo picked up $10m in its Series A round which was led by Balderton Capital.
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