Bling Europe, a pocket money money card and financial education app for children, has secured €3.5 million in seed funding just six months after launch.
Bling founder Nils Feigenwinter says the firm has issued more than 10,000 Bling cards to children since its launch in the summer. Bling developed the initial product with support from SocGen-owned BaaS player Treezor.
“It’s a challenging time to build a consumer fintech, but we just delivered viral growth and monetized from day 0,” says Feigenwinter, “Our numbers speak for themselves”.
Coined the “Fintech Wunderkind” by German media, Feigenwinter was a former Kids TV host who went on to found three companies in his teens, including Switzerland's largest student magazine, a family merchandise and licensing house, as well as a consultancy agency specialized in young adult topics.
Investors in the round include Peak and La Famiglia, with support from the founders of Amorelie, Orderbird and IDnow. Other participants include former ING-Diba CEO Ben Tellings, family influencer Carmen Kroll, Angel Invest, IBB Ventures and Prediction Capital.
Feigenwinter says Bling is aiming to capture a multibillion-euro market with an expanded range of savings and money management products to suit family finances.
“For decades, families have been neglected as a target group," he says. "We are changing that. Our products are centered around family development. And with our new savings plan, beginning at birth and extending into teenhood, we prepare to push this strategy further.”