Bling Europe, a pocket money card and financial education app for children, has successfully raised €3.5 million in seed funding just six months after its launch.
Founder Nils Feigenwinter reports that the company has issued over 10,000 Bling cards to children since its launch in the summer. The initial product was developed with the assistance of Treezor, a banking-as-a-service provider owned by SocGen.
Despite the difficulties of building a consumer fintech during challenging times, Feigenwinter declares, “We just delivered viral growth and monetized from day zero. Our numbers speak for themselves.”
Recognized as the “Fintech Wunderkind” by German media, Feigenwinter previously worked as a Kids TV host and has founded three companies in his teens, which include Switzerland’s largest student magazine, a family merchandise and licensing business, as well as a consultancy focused on young adult issues.
The recent funding round includes investors such as Peak and La Famiglia, along with backing from the founders of Amorelie, Orderbird, and IDnow. Additional participants comprise former ING-Diba CEO Ben Tellings, family influencer Carmen Kroll, Angel Invest, IBB Ventures, and Prediction Capital.
Feigenwinter aims for Bling to capture a multibillion-euro market by expanding its range of savings and money management products tailored to family finances. “For decades, families have been neglected as a target group. We are changing that. Our products are centered around family development. With our new savings plan, starting at birth and extending into teenage years, we are prepared to strategically advance this initiative.”