Smart spending-tracker gini secures $1.6 million seed funding to take on the world
HONG KONG, JANUARY 29 2019 – gini, the Hong Kong based smart spending-tracker announced today that it has successfully completed its seed round with a $1.6 million investment from both international institutions and Hong Kong-based Vectr Ventures, the early stage fintech venture capital firm.
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 60 banks across Hong Kong, France, Switzerland 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 service 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 a strong new partner in Vectr who shares our passion and believes 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 is solving a pressing problem we all have when accessing and making sense of our personal financial information. We’re excited that the app is leading in Hong Kong and is adaptable to overseas markets. The expertise from their leadership team is unmatched and we’re proud to have gini in our portfolio.” said Mark Munoz, Managing Partner, Vectr Fintech Partners.
With its soft launch in March 2018, the app already has more than 20,000 users in Hong Kong and has handled over HKD 6B in transactions so far.
gini’s newest partnership with Salt Edge, the global financial data aggregation provider, means that users can connect seamlessly and securely to over 3,000 financial institutions in 60 countries. Considered the global trusted guardian of banking data, Salt Edge is ISO 27001 certified, as well as Payment Card Industry Data Security Standard (PCI DSS) compliant, which represents a guarantee of the highest security requirements and standards.
The first batch of available countries includes the United Kingdom (38 institutions), and France (11 institutions) and Switzerland (6 institutions)based on current user demand, with more banks to be added in the first half of 2019.