Swiss fintech startup becomes USD 1 bn unicorn, might set up shop in Hungary too

Portfolio
A Swiss fintech startup has boosted its value to over one billion U.S. dollars, and all with the help of private investors. It is now preparing to expand outside its market of Germany to the whole of Europe, Bloomberg reported on Thursday.
Numbrs Personal Finance raised USD 40 million to bring the total capital invested to almost USD 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," Bloomberg cited Saidler as saying. Investment Corporation of Dubai, which invested in 2017, is an exception, he added.

In total, more than 50 individuals and families are invested in the company. Existing and new investors took part in the latest funding, Saidler said, while declining to name any. The company previously identified former Deutsche Bank AG head Ackermann and private banker Pierre Mirabaud as stakeholders.

The fintech firm launched its app in 2014 in Germany and, starting next year, Numbrs aims to establish Britain as its second main market.

After that, we want to expand to other European countries

, Saidler said. He has no plans for a launch in the U.S.