Finary, a portfolio tracker, has scored €8m in its Series A funding round to support its shift into wider banking services.
The capital injection was raised to support the development of its private banking services.
The investment was backed by existing investors Speedinvest and Y Combinator.
Over the past 12 months, the company has experienced strong growth and now has 30,000 users onboarded.
With the support of the capital injection, Finary will spend the next few months and years to transition into a fully-fledged investment platform that supplies tailored advice, access to investment opportunities and improved customer experience.
To support this, the company is releasing new features, tripling the size of its team and expanding across Europe.
Finary currently offers a mobile app to track all a user’s assets, including brokerage accounts, real estate, crypto, bank accounts, precious metals and more.
The FinTech company previously raised €2.2m in funding back in May 2021. It received the funds from Y Combinator, Kima Ventures and a group of angel backers.
Speedinvest is no stranger to FinTech, having invested into multiple companies. It recently backed low-code payment infrastructure developer Primer, which netted $50m for its Series B.
Copyright © 2022 FinTech Global
