The industry has grown and grown out of its infancy. There are so many companies that shape the industry but not all are equally known. Let’s talk about Finanzguru, one of the well known company in the industry.
Finanzguru
The Finanzguru is an independent banking app that allows you to manage almost any German bank account. The app helps you to finally end your financial mess. Based on your bank bookings, a digital contract folder with an overview of your recurring costs is created and it is fully automated. The Finanzguru AI often discovers contracts that you did not have on screen. The great thing about it is, with just a few clicks, you can cancel your contracts from the app or switch to better alternatives.
In addition, the financial guru helps take over your disposable income every month more than spending. Personal savings and financial tips around your personal goals & needs complete the complete package of Finanzguru as an intelligent savings aid. Finanzguru is one of the nominated companies of the Fintech of the Year 2018.
Facts and figures about Finanzguru
The founders of Finanzguru is, Alexander and Benjamin Michel (Co-CEOs), Sandro Sonntag (CTO), Florian Hirsch (App Lead). Investors of the fintech are, Deutsche Bank Venture Capital and Carsten Maschmeyer on seed + speed. Recent milestones the company has achieved so far are;
- February 2018: Financial Guru is live for iOS and Android
- October 2018: Cave of the Lions and more than 250,000 registered bank customers
- February 2019: More than 350,000 registered bank customers and many new features to make finances magically easy
The target of the fintech is private customers. It’s destination country is Germany and the status of funding is seed. The product of Finanzguru is the Financial Assistant. It gives the customer full control over their finances and calculates their disposable income in real time.
The business model of Finanzguru
The fintech mainly aim digital marketplace. They help their clients to optimize their finances and contracts in the long term. For the optimization of the contracts of their customers, the company receive a commission from their partner companies.
What makes financial guru so special?
The mission of the company is to give customers time and money. Finanzguru pursue a clear leitmotif. The Finanzguru build a comfortable financial assistant, which can invariably be recommend to the best friends of the company. The success of the app shows that this model works. With more than 350,000 users, Finanzguru has become Germany’s most popular independent banking app within a year.