Swiss Fintech Turns Into Unicorn as Valuation Exceeds $1 Billion - Bloomberg: A
Zurich-based fintech firm whose investors include Josef Ackermann has raised additional money to value the company at more than $1 billion as it prepares to expand outside its main market of Germany.
Numbrs Personal Finance raised $40 million to bring the total capital invested to almost $200 million, Chief Executive Officer Martin Saidler said in an interview. Numbrs offers an app that enables users to manage their existing bank accounts in one place and to buy financial products.
The company has become a so-called unicorn by focusing mostly on private investors. “Venture capital and private equity funds tend to have less patience. They get nervous when it takes longer for a startup to earn money,” Saidler said in an interview. Investment Corporation of Dubai, which invested in 2017, is an exception, he said.
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