Zurich-based Numbrs has completed a $40m investment round and hit a $1bn valuation in the process.
Just like in the banking app’s previous rounds, this capital injection was funded by private investors. To date, over 50 individuals and families have invested in the new European unicorn.
“Venture capital and private equity funds tend to have less patience,” Martin Saidler, founder and chairman of Numbrs explained to Bloomberg. “They get nervous when it takes longer for a startup to earn money.”
Saidler added that the only exception to this rule is the 2017 investment from Investment Corporation of Dubai, the state-owned holding company.
Despite being based in Switzerland, Numbrs launched its app in 2014 in Germany. The app was recently released in the UK.
Speaking of Germany, the country has attracted a lot of FinTech investment over the past five years. FinTech Global’s own research reveals that investment in the country has jumped from $158.4m in 2014 to $927.1m in 2018. And in the first six months of 2019 it increased to $2.07bn, representing roughly 74 per cent of the total FinTech investment the country received between 2014 and 2018.
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