The personal finance app Fintonic has just closed one worth 19 million euros. The operation, led by ING Ventures and with the support of shareholders such as the insurance group Previsión Sanitaria Nacional (PSN), has brought Fintonic’s valuation to 160 million euros.
Fintonic, on the hunt for the breakeven point
With this financing, which has allowed not only an increase in the valuation of Fintonic, but also the possibility of its international expansion.
https:///fintonic-capta-25-million-euros-invest-latam/
The company is currently present in the Spanish market, in Chile in which it has established itself as the first finance app and has achieved a successful landing in Mexicoa country where it has recently opened offices.
In addition, Fintonic has closed a bond issue of up to 70 million euros which has been approved by the CNMV. With this financial support, Fintonic expects to exceed a contracting volume of more than 1,000 million euros.
Fintonic is a finance app that allows its users to better control their economy, solve their financing needs and save. In addition, Fintonic also signs agreements for customers of associated businesses. For example, has achieved the first financing collaboration agreement with , making available to app users the possibility of financing purchases between 200 and 1,000 euros made through this marketplace at 0% APR.
Fintonic expects to exceed a contracting volume of more than 1,000 million euros
Fintonic’s tool, which allows you to take out loans in less than three minutes without the need for procedures or paperwork, has been attractive for many large product and service companies that hope to increase their sales with this service, and with which, according to the company, is closing alliances.
The Fintonic process is 100% digitalfrom analysis to signature, and has achieved integrate the offer of 10 financial entities reference. In six years, he has managed to position himself as a benchmark with his personal loan platform, since individuals can take out loans of up to 40,000 euros.
In order to operate under European regulations, Fintonic has applied for the Financial Aggregator (AISP9) and Payment Initiator (PISP9) licenses issued by the Bank of Spain, in addition to obtaining a Insurance Broker license granted by the DGS.
Its insurance line is showing a great reception by users, as well as the energy saving line launched by the company at the end of 2018. These initiatives are included within the Fintonic’s proposal to achieve savings for userswithout for that reason having to give up a good service.
co-CEO and founder of Fintonic, assured that “We have been working for more than 6 years to create the ideal financial service for the user, and the traction we are obtaining reaffirms that we are on the right track and that we must continue to strive with the same passion as the first day. We are very excited about the future and in the coming months we will announce great news”.
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