Chalk this up as one to watch closely in the world of consumer fintech. Numbrs, a mobile-first banking app founded out of Swiss company builder Centralway, has raised 7.5 million Swiss francs (~$7.7 million) from its parent, capital it will use to build on its pending German launch, with the UK and Swiss markets up next, followed by Singapore and Hong Kong.
The startup, which also hails from Switzerland (a country known for its “innovative” banking) bills itself as a mobile banking app to rule them all, offering a financial dashboard similar to something like Intuit-owned Mint.com, which enables a user to intelligently track and predict their spending, but with the added functionality of being able to actually make transactions and pay bills from within the app, too. That’s something that most, if not all, of its competitors lack.
Longer term, however, Numbrs’ ambition is to get this working across all countries and all banks, which would be some feat. Tackling Germany first makes sense, where I understand there exists a single and independent protocol over which Numbrs connects to banks locally.
In contrast, the UK — where Numbrs is gunning for a Summer/Fall launch — lacks a common B2C standard. Instead, the startup is working with a “leading” but unnamed API vendor (though I understand it’s not Yodlee, the U.S. company that powers a number of competing dashboards) which has already done the heavy lifting of creating connectors to all the major UK banks. This will enable Numbrs to authenticate the user with their bank accounts, import and conduct transactions, and present all data in the same aggregated view already present within the German version of the app. It also makes it harder for the banks to pull the plug on Numbrs, since it’s the same system they use for their own consumer apps.
Another key feature of the Numbrs app, and something that is central to its planned advertising-based revenue model, is what the startup calls the Future Timeline, a technology that predicts what a user’s finances will be like in the future by analysing historical patterns of incoming and outgoing payments, thus enabling financial targets to be met. It’s also the sort of data that I’m guessing advertisers would, indirectly, kill for.
Finally, as part of Numbrs’ UK launch, TechCrunch has learned that Centralway is opening a London office, scheduled to open in September, where the Numbrs UK country manager and other marketing personnel will also be based.