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NEOBANCO FUNDSFY LAUNCHES IN SPAIN


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Integral service around a transaction
BY : Diego GutiérrezNovember Mon, 2019

Fundsfy is the first neobank for investors, created with the philosophy of facilitating access to investment services..

It has just started operating after selling part of its shares to prestigious investors in a financing round valued at €2.2 million.

Technology will be key to accelerating the transition to the banking of tomorrow with more accessible services.

For this reason, the neobanks are the new generation of financial institutions offering banking intermediation services in a digital 100% form.

A reality that neither business nor corporate finance overlooks.

FUNDSFY

Through Fundsfy, users can manage their current account with a Spanish IBAN, as well as access a range of investment products and services that until now were only available to professional investors..

In this way, the firm is fulfilling its objective of launching a neobank on the market, aimed at a segment of customers who do not find in traditional banking access to certain investment services, nor the technology necessary to control all their finances from a single application.

Fundsfy gives them access to a high level of service, where they will find investment products and personalised attention at a minimum cost.

It is available for iOS and Android, and gives access to the following plans:

  • VirtualAccess to a complete account operation: Spanish IBAN, virtual card, option to add unlimited bank accounts and monitor them from one place, make transfers and send instant money to other users also in an unlimited way.
  • NeobankVirtual plan: includes all the advantages of the Virtual plan, plus a physical Mastercard, with which it is possible to pay and withdraw money free of charge from any ATM.
  • InvestorThe investment marketplace: in addition to all of the above, you will also receive a cash card, access to the investment marketplace to choose from a variety of products selected by experts and a personalised customer service.

This initial value proposition is a glimpse of the full potential that the company offers its users in the short term.

These three subscription plans are the first to be offered, as it aims to further expand the range of possibilities through new subscription plans and a wider selection of investment products.

INITIAL PROMOTION

This company has started its commercial activity this month, and it has done so with a promotion of 3 months free for the first 5,000 users who register on its platform.

For the time being, it is primarily focused on investors and savers with assets of between 5,000 and 1 million euros, usually without access to high end private banking, but who are comfortable using technology to manage and grow their money.

But Fundsfy's news is not limited to its launch.

In addition, to validate its product, it has just sold part of its shares in its first round of investment to several prestigious partners in the financial, banking and technology sectors.

An operation valued at 2.2M€Thanks to this, the company has the necessary funds to ensure the scalability and agility of its technological platform in order to expand into new markets in Europe.

OTHER SIMILAR ROUNDS IN THE SECTOR

ID FINANCE

ID FINANCE

ID Financewhich offers financial services to the unbankedhas recently closed a round of financing valued at 2M€.

It is a fintech start-up based in Barcelona and operating throughout Europe and Latin America.

PAGANTIS

Pagantis has just closed a round of funding from 65M€This is a modality to which only companies that have already consolidated their business model, and whose main objective is expansion, can aspire.

It has involved investors such as Prime Ventures and SPF Investment Management, and will be used for developing the e-commerce consumer credit model in Italy, Portugal and France.

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