19 September 2017
visit www.avoka.com

Spanish PFM app Fintonic raises EUR25m

27 June 2017  |  4842 views  |  2 Spanish flag 2

Spanish personal finance management app Fintonic has raised EUR25 million in a funding round joined by ING Group and insurance outfit PSN.

Founded in 2012, Fintonic has accumulated more than 400,000 users in Spain and Chile, enabling them to link their bank and card accounts for a better view of their finances.

The app uses the financial data to build a credit profile and suggest tailored loan and insurance products from 40 providers.

The firm stresses its independence from the partners it works with, saying that it is taking advantage of Europe's PSD2 to put power and data in the hands of consumers.

The new money will be used to develop the app and drive growth in Spain and Latin America.

Comments: (2)

Colin Weir
Colin Weir - Moroku - Sydney | 27 June, 2017, 09:36

PFM’s have been in market for nearly 20 years with Yahoo, Citi Bank My Citi, Chase Online Plus, Wells Fargo One Look all early pioneers.

These were and perceived as account aggregators born out of a desire to find our where else customers were banking so they could target them for loans and additional servcies and were cloaked in a sales pitch of getting your accounts in one place so you could see your position.

Sounds like that poor horse is still alive

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 27 June, 2017, 19:03

There's still hope for the PFM. As long as it fulfills my wish list http://lnr.li/Q6npt.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.capgemini.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
IBM and UBS team on blockchain payments for carsIBM and UBS team on blockchain payments fo...
10533 views comments | 18 tweets | 36 linkedin
JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidityJPMorgan Chase chief says he would fire tr...
10424 views comments | 16 tweets | 29 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
9677 views comments | 6 tweets | 17 linkedin
iPhone X gets Face ID for Apple PayiPhone X gets Face ID for Apple Pay
8853 views comments | 11 tweets | 22 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
8747 views comments | 6 tweets | 3 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job