Smart spending-tracker gini closed $1.6 million seed funding to take on the world
HONG KONG, April 11, 2019 /PRNewswire/ -- gini, the Hong Kong based smart spending-tracker announced today that it has successfully closed its seed round with a $1.6 million investment from global investors, including Mountain Partners, Treuenburg Group, Global Technology Alliance (GTA), Dr. Cornelius Boersch, the European Investment Fund (backed by EIB), and Hong Kong-based Vectr Ventures.
The co-founders, CEO Raymond Wyand and COO Victor Lang revealed the funding will support a global roll out plan, with gini's aim to be compatible with over 3,000 overseas banks in 60 countries by the second half of 2019 - starting with over 70 banks across Hong Kong, France, India, Switzerland, Singapore and the UK currently available.
"We are Hong Kong based, but the plan was never to launch an app only for the Hong Kong market," explained Wyand. "We live in a globalised world. Ultimately, our goal is to build a truly worldwide financial marketplace, to serve not just a user's home market but make managing money across markets accessible and easy for anyone to do. This new seed round allows us to start making that vision a reality, and we have strong new partners who share our passion and believe in our vision for what gini can do to disrupt the global personal finances industry more broadly, and make financial freedom accessible to everyone around the world," he added.
"gini's business model is proven to be successful in the US and Europe and we're proud to welcome gini in our portfolio, as part of our recent expansion to Hong Kong. We're excited to see the app venturing outside of Hong Kong and capitalizing on the many opportunities in both developed and emerging markets. Our global network and strong presence in Southeast Asia, Europe, and Latin America can help the brand tap into new markets and capture growth opportunities, early on," said Marco Stutz, Director at Mountain Partners.
"We gravitated towards gini as we felt the company had identified the opportunity in personal finance, not only in Hong Kong, but also around the world. Treuenburg Group has a vested interest in growing fintech and gini's excellence in using technology and their user centered approach makes it a great fit for our portfolio," said Torsten Pfeifer, CEO, Treuenburg Group.