Banking app Kontist said to close its Series A

Kontist, a banking app designed for freelancers, has reportedly closed its Series A on an undisclosed amount.

The capital injection was led by Haufe Group and also say participation from previous backer Founders. According to various reports in the media. The capital from the round will be used to expand the offerings for customers, they report.

Germany-based Kontist provides freelancers and small business owners with a business bank account and a Mastercard. The mobile app offers real-time transparency of transactions, helping to keep better track of income and expenses.

Alongside this, the app gives customers the ability to order and manage their Mastercard, access real-time accounting integrations, categorise bank transactions, automate tax evaluations and gain an overview of budgets.

Through Kontist, customers receive a Mastercard which can be frozen or reactivated through the app, and all transactions will be pushed instantly.

The company previously raised a €2m round in 2016, following contributions from Danish seed investors Founders and Vækstfonden. The capital was raised to help with the development of its app.

Last month, Bitwala raised €4m in a funding round led by Earlybird Venture Capital. The company is a blockchain-based bank account which is scheduled to launch later in the year.

The bank account will enable consumers to combine traditional money and cryptocurrencies in a single platform.

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