Combine, a mobile app that aggregates multiple bank accounts for expats becomes one of the unique PFMs that aggregates transactional data of its users from Europe, Asia, North America and Australia/Oceania simultaneously.
Combine has already been active in Europe, helping people who have bank accounts in multiple countries track their finances easier. Its first markets of presence were the Netherlands, Spain, France, Ireland and the United Kingdom. By the end of 2017, India, Australia, Canada and New Zealand were added to that list. Now it’s time for Hong Kong and Singapore.
Irakli Agladze, CEO of Combine, explained his team’s strategy, “Since the very beginning we were aiming to help expats who hadn’t cut ties with their home countries. While others are trying to work with financial institutions and stay in one market only, we are working directly with our users who live abroad from their homes. It is them who ask us for new features, and it is them who ask us to add specific banks to the platform. That’s exactly why we decided to expand to Australia, Canada and now Hong Kong – we saw the demand from our users and just followed it. After our successful launch on Product Hunt, the US banks came to the top of our list, but we couldn’t ignore our long-term users who asked us for banks in Asia. We’ll sort it out first, and then we’ll be able to shift focus to the United States, while also working on getting a license in the UK and after that Europe.”
Earlier this year Combine started to work in a freemium business model, providing premium service for paying customers. Mr Agladze said that the number of subscribers has been doubling on a monthly basis, while at the same time he didn’t disclose the exact number. “We’re in a fundraising mode right now, so we’ll happily provide all the information to whoever’s interested.”
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