Flink, a UK-based fintech startup, recently announced that it has raised $52 million in a Series A funding round. The funding was led by General Catalyst and other investors included Accel, Coatue, and existing investors Lightspeed and YC Continuity. The funds will be used to accelerate Flink’s expansion in the UK and Europe, and to further develop its product offerings. berlinbased 52m target global 64mheartechcrunch.
Flink was founded in 2020 by former N26 executives and aims to provide a mobile-first banking experience for the next generation of consumers. Flink’s app allows customers to open an account in minutes and offers features such as instant notifications, spending analysis, and the ability to split bills with friends. The app also provides customers with a free Flink card that can be used for purchases and cash withdrawals.
Flink’s focus on mobile-first banking has proven to be popular with customers, and the startup has already amassed a user base of over 150,000 customers in the UK. The startup plans to use the funds raised in this funding round to expand its team, further develop its product offerings, and expand into new markets.
In a statement, Flink’s CEO, Oliver von Landsberg-Sadie, said: “This funding is a huge endorsement of our vision for mobile-first banking and our mission to empower the next generation of consumers with the tools they need to manage their finances. We are excited to work with our new investors to accelerate our growth and bring Flink to even more customers across the UK and Europe.”
Flink’s funding round comes at a time when fintech startups are experiencing a surge in investment. According to data from PitchBook, fintech startups raised a record $41.7 billion in funding in Q2 2021, more than double the amount raised in the same period last year. The pandemic has accelerated the shift towards digital payments and online banking, and investors are keen to back startups that are well-positioned to take advantage of this trend.
In conclusion, Flink’s recent funding round is a testament to the growing demand for mobile-first banking solutions and the increasing importance of fintech in the financial services industry. With the funds raised, Flink is well-positioned to continue its expansion and further develop its product offerings, and it will be interesting to see how the startup continues to disrupt the traditional banking industry in the years to come.