19 July 2018
Visit www.gemalto.com

Spanish PFM app Fintonic raises EUR25m

27 June 2017  |  5753 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!
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!
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 info.nice.comVisit http://go.jumio.com/finextraAdVisit https://secure.vasco.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
11816 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10036 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9694 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9239 views 19 comments | 14 tweets | 30 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9015 views comments | 9 tweets | 17 linkedin

Featured job

to GBP £120K base, double ote, benefits
Frankfurt, Germany

Find your next job